The offered amount for the one-month EUR/HUF FX swap tender was EUR 163 mln (HUF 49.8 bln). Banksʼ bids totaled EUR 138 mln (HUF 42.23 bln), of which the MNB accepted bids of HUF 24.79 bln.
For the three-month tender, the offered amount was EUR 163 mln, or HUF 49.88 bln. Bids reached EUR 260 mln, or HUF 79.56 bln, and the MNB allotted HUF 24.79 bln.
Five banks participated at the one-month tender, and two banks at the three-month tender.
The tenders on Monday will keep the total stock of the swaps at HUF 975 bln. Outlays include HUF 150 bln of one-month, HUF 425 bln of three-month, HUF 250 bln of six-month, and HUF 150 bln of twelve-month swaps.
The central bank introduced the tenders for the FX swaps last fall 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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