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Central bank: Forint liquidity up in September

MNB

Forint liquidity of the Hungarian banking sector rose in September, as evidenced by a rise in the average holdings of the National Bank of Hungary (MNB)’s two-week bills, its main sterilization instrument, the central bank said in a report today.

The average holdings of the two-week bills by residents rose by 104.4 billion to HUF 3.9109 trillion in September compared to August. The average holdings of non-residents edged up HUF 15.3 billion to HUF 407.6 billion.

Liquidity was boosted by the MNB’s Funding for Growth scheme, according to the report. Financing from the central bank to support SME lending, which is listed among miscellany on the balance sheet, was up HUF 293.5 billion to HUF 774.0 billion, on average, in September.

Average external assets fell by HUF 278.6 billion to HUF 9.6154 trillion in September because of the continued effect of the early repayment a loan from the International Monetary Fund in August.

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