MNB O/N Deposits, Bonds Soak up Banking Sector Liquidity in Feb

Banking

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The average stock of National Bank of Hungary (MNB) O/N deposits allocated at daily quick tenders and of central bank bonds rose in February, indicating an increase in the banking sector's forint liquidity, news agency MTI reports, citing data released on Tuesday.

The average stock of the O/N deposits rose by HUF 347 billion to HUF 6.995 trillion. The average stock of MNB bonds jumped by HUF 892 bln to HUF 981 bln. 

MNB launched daily tenders for the fixed-rate O/N deposits, at a rate of 18%, well over the 13% base rate, in mid-October.

The February data show banks' had HUF 2.32 tln on their reserve accounts during the month, down from HUF 2.45 tln in January.

Currency in circulation fell by HUF 32 bln to HUF 8.183 tln in February.

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