Forint Liquidity of Banking Sector Grows in May
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Forint liquidity of the Hungarian banking sector expanded in May, reflected in a rise in lenders' deposits with the central bank, monthly data released by the National Bank of Hungary (MNB) on Wednesday show, according to a report by state news wire MTI.
The average stock of O/N deposits offered by MNB at daily quick tenders stood at HUF 6.96 tln in May, up HUF 284 bln from April.
MNB pays 18% on the deposits, well over the 13% base rate.
The average stock of banks' variable-rate deposits at MNB climbed by HUF 150 bln to HUF 663 bln.
Balances on banks' reserve accounts reached HUF 4.306 tln in May, a little over the HUF 4.275 tln requirement which was raised from 5% to 10% from April 1.
The average stock of currency in circulation edged down HUF 42 bln to HUF 8.079 tln.
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