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.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Finance