MNB: Forint liquidity of banking sector grows in November
The forint liquidity of Hungaryʼs banking sector grew in November from a month earlier, reflected mainly in the lower average stocks of two-week central bank deposits and a higher average of three month deposits, the National Bank of Hungary (MNB) said in a report on Saturday.
The average stock of two-week deposits decreased by HUF 750.3 billion to HUF 1.861 trillion, according to the report which is based on preliminary data.
The average stock of external assets grew by HUF 294 bln to HUF 10.571 tln. The stock of external assets stood at HUF 10.686 tln at the end of November, up from HUF 10.3 tln at the start of the month.
Transactions increased the stock of external assets by HUF 255 bln and revaluations and other factors by a further HUF 161.1 bln. Receipt of transfers from the European Commission significantly influenced the data.
The stock of two-week deposits fell from HUF 2.175 tln to HUF 1.447 tln from the start of the month to the end of November. The HUF 727.8 bln fall was partially compensated by the HUF 588.3 bln rise in the stock of three-month deposits.
From September 23, the three-month deposit became the new policy instrument of the MNB, replacing the two-week deposit.
The average stock of central government deposits grew by HUF 196.0 bln to HUF 1.925 tln in November. The stock stood at HUF 2.066 tln at the end of November compared to HUF 1.926 tln at the start of the month.
The average current account balances of credit institutionsʼ rose significantly relative to previous months. The average was up by HUF 100.7 bln at HUF 613.4 bln at the end of November. The rise can be attributed to the choice of certain credit institutions to implement a higher reserve ratio from the start of November.
The monthly average of the banking sectorʼs current account balances with the MNB exceeded reserve requirements by HUF 2.89 bln, which the central bank termed a "slight excess" compared to the total requirement of HUF 610.50 bln.
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Wants Sustainable Business Model for Magyar Posta
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
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.
