MNB allocates EUR 760 mln of euro liquidity swaps at tender

MNB

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The National Bank of Hungary (MNB) allocated EUR 760 million of euro liquidity swaps at a tender on Thursday, accepting all bids, the central bank said, according to a report by state news wire MTI.

Five banks bid in the tender for the swaps which mature on January 7, 2021.

The tender was the fourth end-of-quarter one for the instrument in Q4. At the first tender, on December 21, MNB allocated EUR 1.065 billion of the swaps. At the second tender, on December 29, it allocated EUR 765 mln of the swaps, and EUR 419 mln were allocated at the third tender on December 30.

MNB started holding the tenders in September to ease end-of-quarter FX swap market tensions. With the instrument, MNB aims "to ensure that changes in short-term yields continue to be in line with short-term yields deemed optimal by the Monetary Council in every sub-market at all times".

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