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MNB to scrutinise banks that took up lending-linked IRS

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The National Bank of Hungary (MNB) will review banks that bid for an interest rate swap (IRS) linked to lending activity to determine whether they have fulfilled their commitments at the end of February, Hungarian news agency MTI reported the central bank as saying.

The 17 commercial banks that took up the three-year IRS promised to boost their lending to small and medium-sized enterprises (SMEs) by some HUF 200 billion.

The MNB allotted almost HUF 780 bln of the interest rate swaps through tenders last year.

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