Budapest, 8 July 2022. In today's FX swap tender providing euro liquidity, the Magyar Nemzeti Bank (MNB) accepted all bids in the amount of EUR 1588 million (HUF 637.42 billion) with a maturity of 11 July 2022.
In accordance with the decision of the Monetary Council of 28 June 2022, today the Magyar Nemzeti Bank (MNB) held an FX swap tender providing euro liquidity. The offered amount on the variable rate tender was EUR 5 billion. Bids worth of EUR 1588 million were placed by the 9 participating banks, all of which were accepted by the MNB.
The MNB closely monitors FX-swap market developments and pays close attention to the liquidity management of the banking system. To ensure that short-term rates in every sub-market, particularly in the swap market, and at all times develop consistently with the level of short-term rates deemed optimal by the Monetary Council, the MNB stands ready to regularly use its euro liquidity swap facility. By maintaining an active presence in the market, the MNB enhances the effectiveness of monetary policy transmission, thereby supporting the achievement and maintenance of price stability.
The MNB will publish the call for tender containing the parameters of the swap tenders on the central bank's website and news agency pages at 9:00 on the day of each tender. The next tender will be held on 11 July 2022.