Banking sector liquidity rose in May

Telco

shutterstock

Forint liquidity of Hungaryʼs banking sector rose in May from a month earlier, which was mainly reflected in an increase in the average stocks of overnight deposits, the National Bank of Hungary (MNB) said in a report on Wednesday based on preliminary data.   

The average stock of overnight deposits rose by HUF 75.5 billion to HUF 1,257.6 bln, state news wire MTI cited the MNB as saying.  The end-of-month and average stock of three-month deposits, the main sterilization instrument of the MNB, was stable in May at HUF 75 bln.

The central bankʼs average stock of external assets was up by HUF 483.2 bln at HUF 7,826 bln. The stock of external assets stood at HUF 8,650 bln at the end of May, up from HUF 7,849 bln at the start of the month. 

Transactions increased the stock of external assets by HUF 517 bln, and revaluations and other factors by a further HUF 283.4 bln. 

The average stock of central government deposits was up by HUF 148.8 bln at HUF 951.3 bln in May. The stock stood at HUF 1,396.3 bln at the end of the month, up from HUF 785 bln.

In May, the MNB concluded one, three, six and 12-month transactions with credit institutions at the EUR/HUF FX swap tenders providing forint liquidity. On balance, the total average stock of swaps rose over the month.   

The average stock of currency in circulation continued to rise during May, reaching HUF 5,444 bln by the end of the month.

The monthly average of the banking sectorʼs current account balances with the MNB exceeded reserve requirements by HUF 26.3 bln, which is a similar amount as in the previous month. In May, reserve requirements amounted to HUF 207 bln.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.