MNB Extends EUR 4 bln ECB Repo Line
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The maturity of a EUR 4 bln repo line agreement the National Bank of Hungary (MNB) has with the European Central Bank (ECB) has been extended until the end of January 2025, the central bank said on Monday, according to a report by state news wire MTI.
The safety net "remains available in the current turbulent financial market environment due to heightened geopolitical risks", MNB said.
The central bank initially signed the repo agreement in July 2020 to provide euro liquidity to Hungarian financial institutions in order to address potential FX liquidity needs during market turbulence resulting from the pandemic.
The agreement was extended several times, recently in December 2022 due to financial market tensions caused by the protracted war in Ukraine.
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