Including the previous tenders and upcoming maturities, the MNB has injected HUF 400 billion liquidity into the system through the new facility.
The offered amount for the EUR/HUF FX swap tender was EUR 160 million (HUF 49.5 bln) and the maturity of the swaps is one month.
Banksʼ bids totaled EUR 1.20 bln (or HUF 371 bln), of which the MNB accepted bids worth EUR 485 mln (or HUF 150 bln).
Seven banks participated at Mondayʼs swap tender.
The central bank announced in late September that – related to the volume limit it set on the three-month deposit, its main liquidity management instrument – starting from October it would operate fine-tuning instruments such as FX swap tenders on a case-by-case basis, reducing and increasing forint liquidity to tackle considerable and persistent liquidity shocks.
The MNB said it will continue to watch the markets closely and will hold more fine-tuning tenders if necessary.
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