MNB Extends Maturity of EUR 4 bln ECB Repo Line

MNB

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The National Bank of Hungary (MNB) on Thursday said the maturity of a EUR 4 billion repo line agreement it has with the European Central Bank (ECB) was extended until mid-January, 2024 to address financial market tensions caused by the war, according to a report by state news wire MTI.

MNB initially signed the repo agreement in July 2020 to provide euro liquidity to Hungarian financial institutions in order to address potential FX liquidity needs during market turbulence resulting from the pandemic. The agreement was extended in February 2021 and again in March 2022.

The latest extension was requested by MNB "given the financial market tensions caused by the protracted Russian-Ukrainian war".

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