Forint liquidity of the Hungarian banking system fell slightly in November, mainly because of lenders' growing stock of forint/euro swaps, the National Bank of Hungary said in its monthly statistical balance report on Monday.
Average stock of forex swaps rose by HUF 123.5 billion over October to HUF 360.0 billion in November, the MNB said. The stock peaked at a little over HUF 460 billion in July and August.
Banks' stock of overnight deposits fell by HUF 77.3 billion to HUF 116.1 billion. Stock of O/N deposits rose as high as HUF 800 billion-900 billion at the peak of the crisis, but has been under HUF 200 billion almost every month for the past year.
Average stock of MNB two-week zero-coupon bonds fell by HUF 112.0 billion to HUF 3,944.6 billion. The average stock peaked at HUF 4,454 billion in April.
Average stock of deposits of the central government with the MNB fell by HUF 46.5 billion to HUF 1,013.6 billion in November.
The MNB's average stock of external assets rose by HUF 159.2 billion to HUF 1,704.3 billion. Revaluations accounted for HUF 79.3 billion of the increase and transactions for HUF 79.9 billion.
The average current account balance of the banking sector, including the MNB, was HUF 900m over the mandatory reserve requirement during the month, exceeding the threshold by about the same amount as in October and September.
Average cash in circulation rose by HUF 17.0 billion to HUF 2,352.1 billion. (MTI-Econews)