MNB FX swap stock to fall after tender

Banking

Outstanding stock of the National Bank of Hungary's FX swaps, which the central bank uses to pump liquidity into the banking sector, will fall by about HUF 14.3 billion to nearly HUF 1.445 trillion, after a tender on Monday.

MNB allotted HUF 15 bln of 12-month swaps at the tender. The only other swaps maturing on May 12, the value date of the tender, are HUF 29.4 bln of 12-month swaps.

After payments and redemptions, the FX swap stock will comprise HUF 1.385 tln of twelve-month swaps and HUF 59.2 bln of six-month swaps.

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