The tender will raise the total stock by the same amount, to HUF 1.618 trillion, as no swaps will expire on the value date of the tender, noted state news agency MTI.
From Wednesday, the total stock of outlays will thus include HUF 156 bln of one-month, HUF 214.7 bln of three-month, HUF 173 bln of six-month, and HUF 1.074 tln of 12-month swaps.
On Tuesday the offered amount for the one-month EUR/HUF FX swap tender was EUR 80 mln, or HUF 24.77 bln. Banksʼ bids totaled EUR 316 mln, or HUF 97.82 bln, of which the MNB accepted EUR 242 mln, or HUF 74.92 bln.
For the three-month tender the offered amount was EUR 80 mln, or HUF 24.77 bln. Banksʼ bids totaled EUR 570 mln, or HUF 176.45 bln, of which the MNB accepted EUR 80 mln.
Four banks participated at the one-month tender and five banks at the three-month tender.
The central bank introduced the tenders for the FX swaps in the autumn of 2016 as an instrument for managing market liquidity after it put a cap on placements in three-month deposits, its main sterilization instrument. The MNB said it continuously observes liquidity trends and stands prepared to hold further tenders for the instruments if it sees “substantial and lasting” deviations.
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