Hungarian banking sector liquidity up in November


Forint liquidity of Hungaryʼs banking sector rose in November from a month earlier, which was mainly reflected in the 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 55.3 billion to HUF 767.8 bln, state news wire MTI reported.

The end-of-month stock of three-month deposits, previously the main sterilization instrument of the MNB, was down by HUF 25 bln at HUF 25 bln, with the average stock down by HUF 21.2 bln at HUF 41.7 bln. 

The central bankʼs average stock of external assets was up by HUF 82.4 bln at HUF 8,669 bln. The stock of external assets stood at HUF 8,631 bln at the end of November, down from HUF 8,652 bln at the start of the month. 

Transactions increased the stock of external assets by HUF 20.4 bln, while revaluations and other factors reduced it by HUF 41.4 bln.

The average stock of central government deposits was down by HUF 54.6 bln at HUF 1,143.5 bln in November. The stock stood at HUF 1,309.6 bln at the end of the month, down from HUF 1,458.4 bln.   

In November, the MNB concluded one, three, six and 12-month transactions with credit institutions at its EUR/HUF FX swap tenders providing forint liquidity. In November, the level of expiring swap transactions was fully renewed, with the decrease in average stocks caused by the strengthening of the forint exchange rate. 

The average stock of currency in circulation continued to rise during the month and reached HUF 5,888 bln by the end of November.

The monthly average of the banking sectorʼs current account balances with the MNB exceeded reserve requirements by HUF 52.9 bln. In November, reserve requirements amounted to HUF 220 bln.

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