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Monetary council decides to introduce new financial instruments

The Monetary Council of Hungary’s Central Bank (MNB) decided after reviewing the current state of the government securities market at its extraordinary meeting on Thursday to introduce two new secured loan tenders.

One of the new instruments is a two-week secured loan to be auctioned once a week for an unlimited amount, while the other facility is a regularly invited six-month secured loan tender for a previously announced amount.

Detailed conditions surrounding the introduction of the new instruments will be decided at the Monetary Council's rate-setting meeting on Monday, October 20. (MTI – Econews)