Hungarian Forint Liquidity Of Banking Sector Falls In Sept
- 13 Oct 2015 9:00 AM
Forint liquidity of Hungary’s banking sector fell in September from a month earlier, reflected mainly in the lower average stocks of two-week central bank deposits, the National Bank of Hungary said in a report. The average stock of two-week deposits decreased by 241.8 billion forints to 4,290 billion, the report based on preliminary data shows. The average stock of external assets fell by 350 billion forints to 10,613.8 billion.
The stock of external assets stood at 10,416.4 billion at the end of September, down from 10,893 billion at the start of the month.
Transactions decreased the stock of external assets by 437.1 billion and revaluations and other factors by a further 39.5 billion forints.
Foreign assets— foreign reserves among them—fell considerably both in average and end-of-month comparison last month, the NBH noted, attributing part of the drop to maturing or closure of swap deals related to the settlement and conversion of retail FX loans.
The drop was also linked to the start of advance debt repayment state debt manager AKK announced earlier, the bank said, adding that AKK repaid early loans taken out from the European Investment Bank.
Source www.hungarymatters.hu - Visit Hungary Matters to sign-up for MTI’s twice-daily newsletter.
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