Banking sector liquidity up in November - MNB

Banking

Forint liquidity of Hungary's banking sector rose in November from a month earlier, which was mainly reflected in an increase in the average stock of credit institutions' overnight and one-week deposits with the National Bank of Hungary, MNB said in a report on Saturday.

According to preliminary data the average stock of one-week deposits was up by HUF 589 billion at HUF 2.6475 trillion.

The average stock of overnight deposits including preferential ones rose by HUF 179.8 bln to HUF 1.229 tln.

The average stock of central government deposits was up by HUF 154.4 bln at nearly HUF 2.986 tln in November. The stock stood at HUF 3.389 tln at the end of the month, up from HUF 2.897 tln.

The average stock of currency in circulation continued to rise during the month, growing by HUF 75 bln, and reached HUF 7.183 tln by the end of it.

MNB's average stock of external assets was up by HUF 340.3 bln at HUF 12.03 tln.

The stock of external assets stood at HUF 12.411 tln at the end of November, up from HUF 11.833 tln at the start of the month. Transactions increased the stock of external assets by HUF 996 bln and revaluations due to FX-rate changes decreased it by HUF 394 bln. 

The increase primarily reflected the issuance of foreign currency bonds by the GDMA and the inflow of EU-transfers, which was partly offset by the strengthening of the forint exchange rate.

In November the average of the banking sector's reserve account balances exceeded reserve requirements by HUF 24.1 bln. Reserve requirements amounted to HUF 271.5 bln in the month.

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