Skip to main content

HUNGARY: Liquidity drops in banking sector in November

posted onDecember 13, 2017

Hungaryʼs banking sector liquidity fell in November from a month earlier, the National Bank of Hungary (MNB) said in a report on Wednesday based on preliminary data. The fall was reflected in declines in the average stocks of credit institutionsʼ overnight, three-month and other deposits.

The average stock of overnight deposits fell by HUF 35.4 billion to HUF 857.6 bln, while the stock of three-month deposits, the MNBʼs main sterilization instrument, fell by HUF 100 bln to HUF 175 bln during November, the statistical balance sheet of the MNB showed. The average stock was down HUF 49.4 bln at HUF 245 bln during the month.

The average monthly stock of three-month deposits has been declining steadily from month to month as a result of the introduction of a quantity limit on the instrument in October 2016 MNB noted.

The average stock of external assets rose in November, reaching HUF 7,708.1 bln, up by HUF 91.3 bln compared to the previous month. However, end-of-month stocks decreased slightly at the end November standing at HUF 7,537.8 bln, down from HUF 7,636 bln at the start of the month.

Transactions decreased the stock of external assets by HUF 81.1 bln in November while revaluations and other changes by a further HUF 17.1 bln. Foreign currency payments made by the government also pointed to the decrease of the end-of-month stocks. The average stock of central government deposits continued to rise during the month, standing at HUF 987.7 bln, up by HUF 24.3 bln compared to October (963.3 bln)

In November no new contracts were concluded at the one-week and three-month loan tenders. The MNB concluded further one, three and twelve-month transactions with credit institutions at the EUR/HUF FX swap tenders providing forint liquidity. As a result, the stock of swaps continued to increase.

The monthly average of the banking sector’s current account balances with the MNB exceeded reserve requirements by HUF 11.6 billion, a more significant extent compared with the previous month. In November, reserve requirements amounted to HUF 193.6 billion

The overnight interbank interest rate fluctuated at the bottom of the interest rate corridor throughout November MNB said. The Hungarian National Bank was established in 1924 and succeeded the Royal Hungarian State Bank, which introduced the Hungarian forint on 1 August 1946.


line black 1300
line black 1300


By Newsroom

Kyoto is the iconic tourist spot of Japan and its best season is spring in April. All over the city clouds of beautiful cherry blossoms bloom and draw visitors from every corner of Japan and the world; every evening the trees are lit and give a truly enchanting display.  

By Newsroom

Sorrento, perched picturesquely on a plateau above the sea with spectacular views over the Bay of Naples, has been a popular tourist destination for almost two centuries. This beautiful seaside community makes a great base for visiting the Amalfi Coast, Capri and Pompeii. 

By Newsroom

April isn’t actually spring in Argentina — it’s fall. Which happens to be harvest season for the hundreds of vineyards that call Mendoza home. Every March through May, the region attracts more than 70,000 wine lovers to witness the gathering of the grapes in one of Argentina’s most prolific winemaking zones. 

By Newsroom

Maramures is probably the most wonderful hidden secret of Romania. Like walking into a fairy tale or stepping back into medieval Europe.  Maramures has the most UNESCO monuments in the country. But besides the monuments, you’ll love the welcoming people, scenery and gastronomy. 

By Newsroom

Madagascar, a huge island nation off the southeast coast of Africa, is home to thousands of animal species – like lemurs – found nowhere else, plus rainforests, beaches and reefs. Miles and miles of stunning coastline wrap around the island.  Turtles visit the beaches, dolphins and whales appear in its waters revelling in the crystal clear water of this wonderland. 

By Newsroom

With over 14 miles of idyllic beaches, a range of modern resorts and accommodations, excellent shopping, dining and nightlife, Cancun is one of Mexico`s most popular destinations and one which keeps visitors coming back again and again.

By Newsroom

The most popular island holiday destination in the Indonesian archipelago is home to an ancient culture that's known for its warm hospitality.Exotic temples and palaces set against stunning natural backdrops 


Kyoto, Japan: The cherry blossoms create one of the most spectacular spring sights in the city


Sorrento,Italy: Cobblestone streets, small, rocky beaches and picture-perfect views of Mount Vesuvius and Naples 


Mendoza, Argentina: Loved for its tree-lined streets, sunny days, Malbec wine and restaurants and spas


Maramures, Romania: Widely regarded as the country's most traditional region


Madagascar, Africa: One of the most jaw-dropping and fascinating wildlife hotspots


Cancun, Mexico: Surrounded by clear Caribbean waters it has much more to offer than its party-town reputation might suggest.


Bali, Indonesia: Stunning beaches, scenic rice paddies and deep sense of spirituality draw millions of foreign visitors