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MNB raises BGS allocation to HUF 1.15 tln

MNB

Image by Jessica Fejos

The Monetary Council of the National Bank of Hungary (MNB) decided on Tuesday that effective on Wednesday the central bank will raise it allocation for its Bond Funding for Growth Scheme (BGS) from HUF 750 billion to HUF 1.15 trillion, according to a report by state news wire MTI.

The council also decided to raise the central bank's exposure to individual issuers or issuer groups from HUF 50 bln to HUF 70 bln. The limit on the maturity of bonds issued in the scheme will also rise from 20 years to 30 years.

MNB seeks to further support improving the liquidity of the corporate bond market and to ensure that the sector continues to have access to sustainable, stable and long-term financing to finance their growth-enhancing investments.

MNB launched the BGS on July 1, 2019, since then 46 companies have issued 53 series of bonds, drawing in HUF 900 bln of funding.

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