MNB to offer HUF 150 bln of 3-month deposits at first capped tender

MNB

Photo by Jessica Fejos

The National Bank of Hungary (MNB) will offer banks up to HUF 150 bln of three-month deposits at a first capped tender tomorrow, data published on the central bankʼs website show, according to Hungarian news agency MTI.

The tender is the first at which the MNB is capping the offer of its main liquidity sterilization instrument. 

The cap is one of several measures the MNB has taken to move banksʼ liquidity out of central bank instruments and into government securities or the lending market. Earlier, it reduced the frequency of the three-month deposit tenders from once a week to once a month. 

Total placements in three-month deposits have been limited to HUF 900 bln for the fourth quarter.

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