Lender Liquidity Increases
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Forint liquidity of the domestic banking sector rose in November, indicated by an increase in the average stock of central bank bills and variable rate deposits, the National Bank of Hungary (MNB) said in a monthly release of data on Thursday.
The average stock of MNB bills stood at HUF 2.788 trillion in November, rising by HUF 1.176 tln from the previous month. The average stock of variable rate deposits climbed HUF 115 bln to HUF 846 bln.
The monthly average reserve account balance reached HUF 10.449 tln in November, slipping from HUF 11.089 tln in the previous month. The reserve requirement was HUF 4.391 tln during the month.
MNB noted that it had phased out its O/N deposits offered at quick tenders in October, making reserve accounts the main instrument for sterilizing liquidity.
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