MNB loss could be less than expected - Simor

MNB

The National Bank of Hungary (MNB) could close this year with a HUF 12bn loss, well under the HUF 95bn loss expected earlier, central bank governor András Simor told a parliamentary committee on Tuesday.

The MNB could realize an exchange rate gain on foreign currency issued to commercial banks to cover early repayments of forex mortgages, causing the central bank's loss to narrow, Simor explained.

The MNB is holding euro tenders to ensure banks have sufficient liquidity for the early repayment scheme.

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