MNB accepts no bids at weekly FX swap tender
Photo by Adriana Iacob/Shutterstock.com
The National Bank of Hungary (MNB) accepted no bids at a weekly tender on Monday for FX swaps, a facility the central bank has used to pump liquidity into the banking sector, state news wire MTI reports.
MNB's Monetary Council decided at a monthly policy meeting in September to "gradually phase out" the FX swap facility amid a tightening cycle, while "taking into account the developments in the swap market".
Lenders bid for HUF 47 billion of one-month, HUF 53.5 bln of three-month, HUF 42.7 bln of six-month and HUF 67.6 bln of twelve-month swaps at the tender on Monday.
As HUF 52.8 bln of the swaps are maturing on October 13, total swap stock will fall to HUF 991.9 bln. The stock will comprise HUF 68 bln of six-month swaps and HUF 923.9 bln of 12-month swaps.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
