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Banking sector forint liquidity falls in April

Banking

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Forint liquidity of Hungary's banking sector fell in April, reflected mainly in a decline in the average stock of lender's overnight deposits with the central bank, the National Bank of Hungary (MNB) said in a monthly report on Friday, according to a report by state news wire MTI.

The average stock of O/N deposits fell by HUF 475 billion to HUF 468 bln during the month. The stock of preferential O/N deposits fell by HUF 105 bln to zero as the central bank phased out the instrument, as announced earlier, amid a tightening cycle.

Meanwhile, the average stock of one-week deposits rose by HUF 367 bln to HUF 9.569 tln.

MNB noted that average balances on lenders' reserve accounts exceeded the HUF 381 bln requirement by HUF 11 bln during the month.

The data show average stock of currency in circulation reached HUF 8.325 tln in April, rising HUF 21 bln from a month earlier.

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