EU Transfers Raise NBH Reserves By Eur 1.2bn In Q3
- 28 Nov 2014 8:00 AM
Net transfers from the European Union remained the main item raising the National Bank of Hungary’s (NBH) international reserves, adding nearly 1.2 billion euros in the third quarter, according to the central bank’s interim report.
Net inflow of EU funds came close to 4.1 billion in the first three quarters, cash-flow-based reserves data in the report show.
Calculated from monthly accrual-based preliminary NBH data, net transfers from the EU slightly exceeded 1.5 billion euros in Q3 and came to about 3.5 billion in the first three quarters.
Transactions of Hungary’s Government Debt Management Agency (AKK) reduced the reserves by about 1.4 billion euros in Q3 according to the NBH report. Yields on the reserves reached 60 million euros in the third quarter.
Source www.hungarymatters.hu
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