Magyar Nemzeti Bank discontinues EUR/CHF foreign exchange swaps

The Swiss National Bank, the European Central Bank, the Narodowy Bank Polski and the Magyar Nemzeti Bank are announcing that they will discontinue EUR/CHF foreign exchange swaps, whereby Swiss francs are provided against euros, with a term of 7 days. Demand for liquidity provided by this type of operation has declined, and conditions in the Swiss franc funding market have improved. Therefore similarly to the other three central banks, the Magyar Nemzeti Bank will conduct the last one-week EUR/CHF swap operation on 25 January 2010.

Further information about the EUR/CHF foreign exchange swap operations is provided on the websites of the individual participating central banks.

Vissza a tetejére

The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.