MNB allocates HUF 50 bln of MIRS at tender
Image by Jessica Fejos
The National Bank of Hungary (MNB) allocated HUF 50 billion of its monetary policy interest rate swaps (MIRS) designed to flatten the yield curve at a tender on Thursday, state news wire MTI reported.
The MNB allocated HUF 10 bln of five-year MIRS and HUF 40 bln of ten-year swaps, in line with the announced offered amounts.
Lendersʼ bids came to HUF 36.04 bln for the five-year facility, and HUF 96.58 bln for the ten-year swaps.
The fixed rates for the swaps were 0.46% for the five-year and 1.17% for the ten-year swaps. The floating interest rate in the first period was 0.02%.
MNB policymakers decided in November 2017 to launch the MIRS facility, setting a HUF 600 bln allocation for the first half of 2018. The MNB is holding MIRS tenders every other Thursday.
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