Lender Liquidity Increases in December

Banking

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Forint liquidity of the domestic banking sector rose in December, indicated by an increase in the average stock of central bank bills and lenders' current account deposits, the National Bank of Hungary (MNB) said in a monthly release of data.

The average stock of MNB bills stood at HUF 3.48 tln in December, rising by HUF 692 bln from the previous month.

Credit institutions' average current account balances rose by HUF 115 bln to HUF 9.937 tln.

The average stock of variable rate deposits of lenders fell HUF 156 bln to HUF 690 bln.

The monthly average reserve account balance reached HUF 10.578 tln in December, rising from HUF 10.449 tln in the previous month. The reserve requirement was HUF 4.391 tln during the month

MNB phased out its O/N deposits offered at quick tenders in October, making reserve accounts the main instrument for sterilizing liquidity.

The average stock of currency in circulation stood at HUF 8.218 tln in December, rising HUF 142 bln from the previous month.

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