MNB: Banking sector forint liquidity grows in August

MNB

Forint liquidity of Hungary's banking sector rose in July from a month earlier, evidenced in an increase in the average stock of lenders' overnight deposits, the National Bank of Hungary said in a report on Friday.

The average stock of O/N deposits rose by HUF 226.5bn to HUF 276.2bn in August from a month earlier.

The statistical balance sheet of the MNB also shows that average deposits of the central government fell by HUF 411.8bn to HUF 1,755.2bn in August. The central bank said the drop reflected the maturing of a HUF 310bn FX bond on July 28 and a HUF 340bn forint bond on August 22.

The MNB noted that its two-week bill, earlier its main sterilisation instrument, had been replaced by the two-week central bank deposit on August 6.

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