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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