Budapest, 28 June 2021. In today's FX swap tender providing euro liquidity, the Magyar Nemzeti Bank (MNB) accepted all bids in the amount of EUR 265 million (HUF 93.10 billion) with a maturity of 8 July 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. Four banks participated in the variable rate tender. Banks placed bids worth of EUR 265 million, all of which were accepted by the MNB.

The MNB closely monitors developments on the swap market focusing particularly on quarter-end periods. The MNB will hold another FX swap tenders on 29, and 30 June 2021 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 MNB will publish the call for tender containing the parameters of the EUR/HUF FX swap tender on 29 June 2021 at 8:00 am and that of the 30 June tender at 10:00 am on the central bank's website and on the news agencies’ websites. The last two tenders’ starting value date will be 30 June, the maturity date will be 1 July 2021.

The MNB modifies its one-week deposit instrument’s tender and maturity days connecting to FX swaps providing euro liquidity in order to support the liquidity management of these swaps. The maturity day of one-week deposit tender starting on 24 June 2021 will be 30 June 2021, therefore on the week starting with 28 June 2021 the one-week deposit tender will be held on Wednesday, 30 June 2021, with a maturity day on Thursday, 8 July 2021.

In line with the practice of the last three quarters swap tenders providing forint liquidity will not be held between 21 and 30 June 2021. The MNB will return to the current swap tender providing forint liquidity practice from the week starting with 5 July 2021.