The tender will lower the total stock by HUF 12.3 bln to HUF 1.518 trillion as HUF 34 bln of one-month swaps will expire on the value date of the tender.
The total stock of outlays will include from next Wednesday HUF 81 bln of one-month, HUF 190 bln of three-month, HUF 173 bln of six-month and HUF 1.074 tln of 12-month swaps.
On Thursday the offered amount for the one-month EUR/HUF FX swap tender was EUR 80 million (HUF 25.03 bln), according to MTI. Banksʼ bids totaled EUR 20 mln or HUF 6.6 bln, of which the MNB accepted all the bids.
For the three-month tender, the offered amount was again EUR 80 mln or HUF 25.03 bln. Banksʼ bids totaled EUR 50 mln or HUF 15.64 bln, of which the MNB likewise accepted all the bids.
One bank participated at the one-month tender, and one bank at the three-month tender.
The central bank introduced tenders for the FX swaps last fall as an instrument for managing market liquidity after it put a cap on placements in three-month deposits, its main sterilization instrument. The MNB has said it continuously observes liquidity trends and stands prepared to hold further tenders for the instruments if it sees “substantial and lasting” deviations.
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