2020. 06. 18. Home page

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Budapest, 19 June 2020

PRESS RELEASE ON THE PRELIMINARY STATISTICAL BALANCE SHEET OF THE MNB

May 2020

The average stock of currency in circula�on

6 869,7 +27,5(HUF billions)

The average stock of external assets

10 938,0 +630,5(HUF billions)

Changes in assets Changes in liabili�es

Addi�onal informa�onExternal assets Central bank and interbank interest rates

Monetary base

Summary

Reserve requirements Forint liquidity of credit ins�tu�ons

2020. 06. 18. Summary

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EN_Eszköz-Forrás

Előző hónap_ Tárgyhónap Havi változás

Total assetsExternal assetsFunding for Growth Scheme refinancing loans to credit ins�tu�onsOther loans of credit ins�tu�onsMortgage bonds issued by credit ins�tu�onsBonds issued by non-financial corpora�onsRemaining assetsTotal liabili�esCurrency in circula�onCurrent account balances of credit ins�tu�ons - IMPS accountsCurrent account balances of credit ins�tu�ons - without IMPS accountsOvernight deposits of credit ins�tu�ons - preferen�al depositsOvernight deposits of credit ins�tu�ons - without preferen�al depositsOne-week deposits of credit ins�tu�onsOther deposits of credit ins�tu�onsDeposits of central governmentExternal liabili�esRemaining liabili�es

13 083,110 307,5

986,8295,5392,5214,0886,9

13 083,16 842,2

149,7118,3330,0110,1675,6

41,01 059,81 517,42 239,0

14 162,710 938,0

1 009,7812,6401,5231,3769,6

14 162,76 869,7

118,7159,0379,4

68,5822,4

79,01 649,41 928,92 087,7

1079,6630,5

22,8517,1

9,017,3

-117,31079,6

27,5-31,040,749,4

-41,6146,8

38,1589,6411,4

-151,3

EN_Eszköz-Forrás

Előző hó Tárgyhó Havi vált.

Total assetsExternal assetsRemaining assetsTotal liabili�esCurrency in circula�onDeposits of credit ins�tu�onsDeposits of central governmentExternal liabili�esRemaining liabili�es

14 048,510 947,5

3 101,014 048,5

6 852,11 420,41 762,81 913,92 099,2

14 389,310 830,2

3 559,014 389,3

6 891,32 048,01 704,41 882,61 863,1

340,8-117,3458,1340,8

39,1627,5-58,4-31,3

-236,2

April 2020 May 2020

May 2020April 2020

The average stock of external assets rose, while end-of-month stocks declinedin May. The rise in the average stocks mainly reflected the carry-over effect ofthe changes in April. The transfers received from the EU also pointed to growth.The appreciation of the forint in May restrained growth in average and end-of-month stocks.

The average stock of new long-term loans introduced to mitigate moneymarket tensions, on account of the coronavirus pandemic, rose to HUF 812.6billion in the month.

Despite the suspension of sanctions against reserve deficiency, the monthlyaverage of the banking sector’s reserve accounts* exceeded the amount ofminimum reserves by HUF 4.2 billion. In May, reserve requirements amountedto HUF 257.7 billion.

The rise in the average stock of credit institutions’ time deposits with the Bankreflected a growth in the banking sector’s forint liquidity in the referencemonth.

The average stock of currency in circulation continued to rise in the month.

The average stock of central government deposits also rose during themonth.

The average stocks of external liabilities also exceeded the level in April.

The average interest rate on overnight interbank loans (HUFONIA) typicallyfluctuated close to the base rate throughout the month.

 

Monthly average and end-of-month stocks - May 2020

Summary of May 2020

Selected month

May 2020

Monthly changes Monthly average stocks (HUF biilions)

End-of-month stocks (HUF billions)

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

Monthly changes

_______________________

*Includes credit ins�tu�ons’ reserve accounts (‘Current account balances of credit ins�tu�ons –

IMPS accounts’) and instant reserve account balances. Instant reserve account is the part of an

account managed under the Immediate Payment System (IMPS), which is counted toward the

compliance with the minimum reserves by the

MNB based on a special statement by credit ins�tu�ons.

2020. 06. 18. Changes in assets

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Components of changes in assets

EN_Eszköz-Forrás

Előző hó TranzakcióSUM

Árfolyamváltozás_SUM

ÁtértékelődésSUM

Egyéb ÁV SUM Tárgyhó

Total assetsLoans to residents - Credit ins�tu�onsLoans to residents - Central governmentLoans to residents - Other residentsHoldings of securi�es other than shares issued by credit ins�tu�onsHoldings of securi�es other than shares issued by general governmentHoldings of securi�es other than shares issued by other residentsHoldings of shares/other equity issued by residentsExternal assetsFixed assetsRemaining assets

14 048,51 935,7

0,010,4

392,139,2

215,284,6

10 947,533,7

390,1

565,5110,8

0,00,0

29,0165,0

45,743,9

193,7-0,1

-22,4

-309,20,00,00,00,00,00,00,0

-311,90,02,7

84,50,00,00,00,00,00,00,00,90,0

83,6

0,00,00,00,00,00,00,00,00,00,00,0

14 389,32 046,5

0,010,4

421,1204,2260,8128,5

10 830,233,5

453,9

-1K

0K

1K

May2018

June2018

July2018

Aug.2018

Sept.2018

Oct.2018

Nov.2018

Dec.2018

Jan.2019

Feb.2019

Mar.2019

Apr.2019

May2019

June2019

July2019

Aug.2019

Sept.2019

Oct.2019

Nov.2019

Dec.2019

Jan.2020

Feb.2020

Mar.2020

Apr.2020

May2020

Transac�on Revalua�on due to foreign exchange rate changes Other revalua�on adjustment Reclassifica�on and other adjustment Total monthly stock changes

Selected instruments

All

Selected month

May 2020

Components of stock change: May 2018 - May 2020 (HUF billions)

End of April 2020 End of May 2020Revalua�on due to foreign

exchange rate changeOther revalua�on

adjustmentReclassifica�on and

other adjustment

Transac�on

Components of changes in assets (HUF billions)

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

2020. 06. 18. Changes in liabilities

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-1K

0K

1K

May2018

June2018

July2018

Aug.2018

Sept.2018

Oct.2018

Nov.2018

Dec.2018

Jan.2019

Feb.2019

Mar.2019

Apr.2019

May2019

June2019

July2019

Aug.2019

Sept.2019

Oct.2019

Nov.2019

Dec.2019

Jan.2020

Feb.2020

Mar.2020

Apr.2020

May2020

Transac�on Revalua�on due to foreign exchange rate changes Other revalua�on adjustment Reclassifica�on and other adjustment Total monthly stock changes

Components of changes in liabili�es

EN_Eszköz-Forrás

Előző hó Tranzakció SUM Árfolyamváltozás_SUM ÁtértékelődésSUM

Egyéb ÁV SUM Tárgyhó

Total liabili�esCurrency in circula�onDeposits of residents - Credit ins�tu�ons - HUF One-week depositsDeposits of residents - Credit ins�tu�ons - HUF other depositsDeposits of residents - Credit ins�tu�ons - Foreign currencyDeposits of residents - Central government - HUFDeposits of residents - Central government - Foreign currencyDeposits of residents - Other residentsDebt securi�es issued (held by residents)External liabili�esCapital and reserves - equalisa�on reservesCapital and reserves - without equalisa�on reservesRemaining liabili�es

14 048,56 852,1

671,5748,9

0,01 318,0

444,89,20,0

1 913,9523,0403,8

1 163,2

565,539,1

394,8232,7

-0,1-25,9-26,2

0,40,0

-4,7-97,411,741,0

-309,20,00,00,00,10,0

-6,30,00,0

-26,60,0

-179,8-96,5

84,50,00,00,00,00,00,00,00,00,00,0

240,7-156,2

0,00,00,00,00,00,00,00,00,00,00,00,00,0

14 389,36 891,31 066,3

981,70,0

1 292,1412,3

9,70,0

1 882,6425,6476,4951,4

Selected instruments

All

End of April 2020 End of May 2020

Components of stock change: May 2018 - May 2020 (HUF billions)

Selected month

May 2020

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

Components of changes in liabili�es (HUF billions)

Transac�on

Revalua�on due to foreign exchange rate change

Other revalua�on adjustment

Reclassifica�on and other adjustment

2020. 06. 18. Monetary base

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Components of the monetary base(monthly average stocks)

-24,15 0,00

Changes in the components of the monetary base during the selected period (HUF billions)

0

2 000

4 000

6 000

8 000

May2018

June2018

July2018

Aug.2018

Sept.2018

Oct.2018

Nov.2018

Dec.2018

Jan.2019

Feb.2019

Mar.2019

Apr.2019

May2019

June2019

July2019

Aug.2019

Sept.2019

Oct.2019

Nov.2019

Dec.2019

Jan.2020

Feb.2020

Mar.2020

Apr.2020

May2020

Currency in circula�on Current account balances of CIs Overnight deposits of CIs

Components of the monetary base during the selected period (HUF billions)

7 000

8 000

May 2018

June 2018

July 2018

Aug. 2018

Sept. 2018

Oct. 2018

Nov. 2018

Dec. 2018

Jan. 2019

Feb. 2019

Mar. 2019

Apr. 2019

May 2019

June 2019

July 2019

Aug. 2019

Sept. 2019

Oct. 2019

Nov. 2019

Dec. 2019

Jan. 2020

Feb. 2020

Mar. 2020

Apr. 2020

May 2020

M0 - original data M0 - seasonally adjusted M0 - trend

Currency in curcula�on during the selected period (HUF billions)

5 000

6 000

7 000

May 2018

June 2018

July 2018

Aug. 2018

Sept. 2018

Oct. 2018

Nov. 2018

Dec. 2018

Jan. 2019

Feb. 2019

Mar. 2019

Apr. 2019

May 2019

June 2019

July 2019

Aug. 2019

Sept. 2019

Oct. 2019

Nov. 2019

Dec. 2019

Jan. 2020

Feb. 2020

Mar. 2020

Apr. 2020

May 2020

Currency in circula�on - original data Currency in circula�on - seasonally adjusted Currency in circula�on - trend

Selected period

May 2018 - May 2020

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

2020. 06. 18. Reserve requirements

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Development in the reserve requirements of credit ins�tu�ons

Development in the reserve requirements of credit institutions (HUF billions)

-10

0

10

20

30

40

50

60

70

140

160

180

200

220

240

260

280

May2018

June2018

July2018

Aug.2018

Sept.2018

Oct.2018

Nov.2018

Dec.2018

Jan.2019

Feb.2019

Mar.2019

Apr.2019

May2019

June2019

July2019

Aug.2019

Sept.2019

Oct.2019

Nov.2019

Dec.2019

Jan.2020

Feb.2020

Mar.2020

Apr.2020

May2020

Reserve surplus (right axis) Reserve requirements of CIs Monthly average of reserve account balances of CIs

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

-24,15 0,00

Selected period

May 2018 - May 2020

2020. 06. 18. Forint liquidity of CIs

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Forint liquidity of credit ins�tu�ons

Development in the average stock of selected central bank instruments during the selected period (HUF billion)

-3 000

-2 000

-1 000

0

1 000

2 000

May2018

June2018

July2018

Aug.2018

Sept.2018

Oct.2018

Nov.2018

Dec.2018

Jan.2019

Feb.2019

Mar.2019

Apr.2019

May2019

June2019

July2019

Aug.2019

Sept.2019

Oct.2019

Nov.2019

Dec.2019

Jan.2020

Feb.2020

Mar.2020

Apr.2020

May2020

Forint liquidity providing EUR/HUF FX swap Loans of credit ins�tu�ons One-week deposits of CIs Other deposits of CIs Three-month deposits of CIs

-24,15 0,00

Selected periodMay 2018 - May 2020

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

Instrument breakdown of CI's deposits (HUF billion)

0

1 000

2 000

Aug.

201

8

Sept

. 201

8

Oct

. 201

8

Nov

. 201

8

Dec.

201

8

Jan.

201

9

Feb.

201

9

Mar

. 201

9

Apr.

2019

May

201

9

June

201

9

July

201

9

Aug.

201

9

Sept

. 201

9

Oct

. 201

9

Nov

. 201

9

Dec.

201

9

Jan.

202

0

Feb.

202

0

Mar

. 202

0

Apr.

2020

May

202

0

IMPS accou… Current acco… O/N deposit … O/N deposit … One-week … Three-mont… Other deposit

Maturity breakdown of fine-tuning FX-swap (HUF billion)

-2 000

0

Sept

. 201

8

Oct

. 201

8

Nov

. 201

8

Dec.

201

8

Jan.

201

9

Feb.

201

9

Mar

. 201

9

Apr.

2019

May

201

9

June

201

9

July

201

9

Aug.

201

9

Sept

. 201

9

Oct

. 201

9

Nov

. 201

9

Dec.

201

9

Jan.

202

0

Feb.

202

0

Mar

. 202

0

Apr.

2020

May

202

0

1 week 1 month 3 months 6 months 12 months

2020. 06. 18. External assets

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External assets-24,15 0,00

Selected periodMay 2018 - May 2020

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

Development in external assets at the end of the selected period (HUF billion)

0

2 000

4 000

6 000

8 000

10 000

12 000

14 000

May2018

June2018

July2018

Aug.2018

Sept.2018

Oct.2018

Nov.2018

Dec.2018

Jan.2019

Feb.2019

Mar.2019

Apr.2019

May2019

June2019

July2019

Aug.2019

Sept.2019

Oct.2019

Nov.2019

Dec.2019

Jan.2020

Feb.2020

Mar.2020

Apr.2020

May2020

2020. 06. 18. Central bank and interbank interest rates

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Central bank interest rates and average interbank overnight lending rates (%)

0,0

0,5

1,0

1,5

2,0

4 May 5 May 6 May 7 May 8 May 11 May 12 May 13 May 14 May 15 May 18 May 19 May 20 May 21 May 22 May 25 May 26 May 27 May 28 May 29 May

Average interbank overnight borrowing rate Central bank base rate Overnight central bank deposit rate Overnight central bank secured loan rate

Central bank interest rates and average interbank overnight lending rates - May 2020

Selected month

May 2020

Home page

Summary Asset changes Liab. changes

Monetary base

External assets

Reserve req. Forint liquidity

CB interest rates Addi�onal info

2020. 06. 18. Additional information

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Addi�onal informa�on

Access to time series on the MNB's websitewww.mnb.hu -> EN -> Sta�s�cs -> Sta�s�cal Data and Informa�on -> Sta�s�cal Time Series -> X. Monetary and other balance sheet sta�s�cs -> Monetary sta�s�cs Direct link: h�ps://www.mnb.hu/letoltes/0708-monstatpubl-enxls.xls

Access to methodological notes on the MNB's websitewww.mnb.hu -> EN -> Sta�s�cs -> Sta�s�cal Data and Informa�on -> Methodological notes -> Methodological notes of preliminary sta�s�cal balance sheet of the MNB Direct link: h�ps://www.mnb.hu/en/sta�s�cs/sta�s�cal-data-and-informa�on/methodological-notes/methodological-notes-of-preliminary-sta�s�cal-balance-sheet-of-the-mnb

Summary

Home page

Asset changes Liab. changes

Monetary base Reserve req. Forint liquidity

External assets CB interest rates Addi�onal info

Contact informationMagyar Nemze� BankSta�s�cs Directorate Phone: + 36 (1) 428-2600Fax: + 36 (1) 429-8000E-mail: sajto@mnb.hu