MNB O/N Deposits Soak up Banking Sector Liquidity in January

MNB

Photo by Adriana Iacob/Shutterstock.com

The average stock of O/N deposits allocated by the National Bank of Hungary (MNB) at daily quick tenders rose by HUF 1.998 trillion to HUF 6.647 tln in January, data released by the central bank on Tuesday show.

The increase in average O/N deposit stock indicates a rise in forint liquidity of the banking sector, MNB said. 

MNB launched daily tenders for fixed-rate O/N deposits, at a rate of 18%, well over the 13% base rate, in mid-October.

The average stock of bonds issued by MNB fell by HUF 612 bln to HUF 89 bln in January.

The average stock of variable-rate deposits rose by HUF 62 bln to HUF 2.197 tln.

The January data show banks' had HUF 2.45 tln on their reserve accounts during the month, down from HUF 2.801 tln in December.

Currency in circulation fell by HUF 197 bln to HUF 8.215 tln in January, consistent with start-of-year seasonality, MNB said.

Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1 Figures

Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

Job Fair and Career Prep at Corvinus Starts Tomorrow HR

Job Fair and Career Prep at Corvinus Starts Tomorrow

Spago Budapest Offering Unique Sunday Brunch Experience Food

Spago Budapest Offering Unique Sunday Brunch Experience

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.