Budapest, 31 December 2020. In today's FX swap tender providing euro liquidity, the Magyar Nemzeti Bank (MNB) accepted all bids in the amount of EUR 760 million (HUF 277.52 billion) with a maturity of 7 January 2021.
In accordance with the decision of the Monetary Council of 8 September 2020, the Magyar Nemzeti Bank held an FX swap tender providing euro liquidity. Five banks participated in the variable rate tender. Banks placed bids worth of EUR 760 million, all of which were accepted by the MNB.
The MNB closely monitors developments on the swap market focusing particularly on quarter-end periods. MNB is ready to hold FX swap tenders because it is one of its key priority that short-term rates in every sub-market at all times should be formed consistently with the level of short-term rates deemed optimal by the Monetary Council.
The next forint liquidity swap tender will take place on 4 January 2021, with a value date of 6 January 2021.