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MNB allocates EUR 292 mln of euro liquidity swaps at tender

MNB

The National Bank of Hungary (MNB) allocated EUR 292 million of euro liquidity swaps at a tender on Wednesday, accepting all bids the central bank said.

Five banks participated in the tender for the swaps which mature on July 1.

The tender was the last of four tenders the MNB held to ease end-of-quarter swap market tensions in Q2. It allocated a combined EUR 4.520 bln at the tenders.

The central bank started the practice of holding the tenders at the end of quarters in September 2020. With the instruments, MNB aims "to ensure that changes in short-term yields continue to be in line with short-term yields deemed optimal by the Monetary Council in every sub-market at all times".

During the period the central bank offered the euro liquidity swaps, it did not hold weekly tenders for FX swaps providing forint liquidity.

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