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Banking sector forint liquidity falls on swaps impact

Banking

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Forint liquidity of Hungary's banking sector declined in June as the central bank held end-of-quarter swap tenders providing euro liquidity, data released by the National Bank of Hungary (MNB) on Thursday show, according to a report by state news wire MTI.

MNB also noted the effect of issues of central bank discount bills on June 9 and 23 on the banking system's forint liquidity.

The combined effect of the factors was reflected in a decline in the average stock of one-week MNB deposits which fell by HUF 1.353 trillion to HUF 8.606 tln.

MNB said that average balances on lenders' reserve accounts exceeded the HUF 381 bln requirement by HUF 13 bln during the month.

The data show average stock of currency in circulation reached HUF 8.345 tln in June, edging up HUF 45 bln from a month earlier.

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