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.
MAGYAR NEMZETI BANK