ÁKK to Relaunch Switch Auctions
Hungary's Government Debt Management Agency (ÁKK) on Friday announced the relaunch of switch auctions, with new conditions, from September 6, according to a report by state news wire MTI.
A technical innovation will allow multiple source bonds to be accepted at the auctions, allowing ÁKK to adapt more flexibly to market conditions.
The new switch auction system aims to mitigate maturity peaks of securities due in 2025 and 2026.
ÁKK suspended switch auctions, temporarily, a year earlier due to developments on the retail government securities market and an increase in yields.
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