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MNB FX swap stock edges lower after tender

MNB

The outstanding stock of the National Bank of Hungary's (MNB) FX swaps, which the central bank uses to pump liquidity into the banking sector, will fall to just over HUF 1.309 trillion after no allotments were made at a tender on Monday.

While MNB accepted none of the bids for six- and twelve-month swaps, HUF 12.7 bln of 12-month swaps will mature on the value of date of the tender: July 21.

After that redemption, the FX swap stock will comprise nearly HUF 1.239 tln of 12-month swaps and HUF 70.5 bln of six-month swaps.

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