Budapest, 29 September 2020. Following the active presence of the Magyar Nemzeti Bank on the FX-swap market, no tensions can be observed in the quarter-end period. Consequently, in today's FX swap tender providing euro liquidity the MNB has not received any bids from the banks.
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 today. In the competitive price tender the MNB has not received any bids from the banks.
The MNB had allocated almost 1,1 billion euro liquidity on the FX-swap tenders held on 18 September 2020 and 25 September 2020. Due to the active presence of MNB, unlike the previous quarter-ends, actually no tensions can be detected in the swap market.
The MNB will hold another FX swap tender on 30 September 2020 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 30 September 2020 at 11:00 am on the central bank's website and on the news agencies’ websites. The tender is settled on 30 September 2020, with the maturity of 1 October 2020.
In response to the swap market developments at the end of the quarter, the MNB will not hold a forint liquidity-providing swap tender until the end of September. The next forint liquidity swap tender will take place on October 5, 2020, with a value date of October 7.