Banking sector liquidity rises in May

Banking

Forint liquidity of the Hungarian banking sector grew in May, reflected by increases in the average stock of credit institutions' one-week deposits as well as their preferential deposits with the central bank, the National Bank of Hungary (MNB) said in a preliminary release of balance sheet data, according to news agency MTI.

The release shows the average monthly stock of O/N deposits with the central bank, including preferential deposits, rose HUF 96 billion to HUF 2.265 trillion in May. Excluding the preferential deposits, O/N deposit stock averaged just HUF 25.5 bln.

The average stock of one-week deposits increased HUF 358 bln to HUF 4.876 tln.

The average stock of currency in circulation continued to rise during the month, growing by HUF 51 bln, and reached just over HUF 7.443 tln by the end of it.

MNB's average stock of external assets was down by HUF 311 bln at HUF 11.381 tln. The decline was mainly due to the strengthening of the forint exchange rate and the closing of swap transactions with credit institutions providing forint liquidity.

The central bank noted that the banking sector's reserve account balances exceeded the HUF 303 bln requirement by HUF 46 bln.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.