Hungary central bank three-month FX swap tender attracts no bids

Recycling

The National Bank of Hungary (MNB) received no bids for floating-rate three month €/HUF swaps at its regular weekly tender on Monday.

Except for two occasions with limited-volume bids on February 6 and on March 12, the weekly tenders have attracted no demand since the end of January.

The MNB offered the usual €400 million floating-rate three month €/HUF swaps at a maximum price of 289.21 swap points.

With no swaps expiring on the March 28 settlement day, the stock outstanding of the three-month €/HUF swaps will remain unchanged at €1.250 billion on Wednesday.

Interest in the facility was high, reflecting partly a seasonal year-end liquidity squeeze, in December and January, and the stock outstanding of the swaps reached an all-time high of €2.345 billion on January 25.

The MNB operates two €/HUF swap facilities to banks, a one-day one operated daily and the three-month one once a week on Mondays.

ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.