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Lender Liquidity Narrows in April

Banking

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Forint liquidity of the domestic banking sector decreased in April, indicated by a decline in lenders' current account deposits that exceeded the increase in the stock of central bank bills, the National Bank of Hungary (MNB) said in a monthly release of data on Wednesday, according to a report by state news wire MTI.

Credit institutions' average current account balances fell by HUF 360 bln to HUF 10.599 tln, while the average stock of MNB bills rose by HUF 304 bln to HUF 4.518 tln.

The monthly average reserve account balance reached HUF 10.754 tln in April, falling from HUF 11.114 tln in the previous month. The reserve requirement was HUF 3.930 tln during the month

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

The average stock of currency in circulation stood at HUF 8.399 tln in April, edging up HUF 21 bln from the previous month.

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