MNB int'l reserves fall EUR 2.862 bln in January

MNB

International reserves of the National Bank of Hungary (MNB) stood at EUR 35.515 billion at the end of January, down EUR 2.862 bln from a month earlier as the central bank repaid repo liabilities that financed end-of-quarter euro liquidity swaps, data released on Monday show.

MNB said the decline was "mainly due to the repayment of repo liabilities, based on international framework contracts, financing foreign exchange swap tenders, providing end-of-year euro liquidity".

The central bank has held euro liquidity swap tenders to ease end-of-quarter swap market tensions every quarter since September 2020. In December, it allotted a combined EUR 5.392 bln of euro liquidity swaps at tenders.

The fresh data show stock of cash, deposits, and securities in the reserves fell by EUR 2.843 bln to EUR 27.94 bln.

The stock of monetary gold stood at EUR 4.865 bln and SDR stock was EUR 2.317 bln.

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