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MNB: Banking sector liquidity down in July

Telco

Jessica Fejos

The forint liquidity of Hungaryʼs banking sector fell in July from a month earlier, reflected mainly in the lower average stocks of overnight and three-month central bank deposits, the National Bank of Hungary (MNB) said in a report today, according to Hungarian news agency MTI.

The average stock of external assets grew by HUF 18.1 billion to HUF 8.4254 trln.  The stock of external assets stood at HUF 10.1452 trln at the end of July, down from HUF 10.2413 trln at the start of the month. Transactions decreased the stock of external assets by HUF 10.4 bln, while revaluations and other factors cut the stock by a further HUF 85.7 bln.

The stock of three-month deposits, the main sterilization instrument of the MNB, grew from HUF 1.6895 trln to HUF 1.7053 trln from the start of the month to the end of July, but the average stock was down HUF 71.7 bln at HUF 1.6456 trln for July.

The average stock of overnight deposits of monetary financial institutions fell to HUF 102.7 bln from HUF 194.5 bln during the month.

The average stock of central government deposits fell by HUF 54.6 bln to HUF 1.3182 trln in July. The stock stood at HUF 1.3848 trln at the end of July, compared to HUF 1.3526 trln at the start of the month.

At HUF 42.4 bln, the monthly average of the banking sectorʼs current account balances with the MNB exceeded reserve requirements by a slightly smaller amount than in the previous month. In July, reserve requirements amounted to HUF 340.6 bln.

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