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Press release on the special meeting of the Monetary Council of 16 October 2008


16 October 2008

At its special meeting on 16 October 2008, the Monetary Council reviewed the functioning of the market for forint-denominated government securities and decided to introduce two new lending facilities:

            1 A weekly tender for two-week, fixed-rate secured loans, for an unlimited amount.
            2 A regular tender for six-month, variable-rate secured loans, for a pre-specified amount.

The Monetary Council will take a decision on the detailed terms and conditions for the new lending facilities at its forthcoming meeting on 20 October 2008.


Monetary Council