Find an overview of the COVID-19 support measures currently available by the Hungarian public sector here - you can also download this table here.
Hungarian National Bank (HNB) and Monetary policies for tackling COVID-19 epidemic
Type of support
The MNB introduced extraordinary measures in order to enhance liquidity of Hungarian banks:
The HNB provides repo financings with a term of 3, 6, 12 months or 3 or 5 years with fixed interest rate and with unlimited maximum amount (keretösszeg). The HNB accepts financing provided to large enterprises as collateral. The first tender for such financing was held on 25 March;
Banks are exempted from their minimum reserve payment obligations (kötelezőtartalék-teljesítés) by suspending the penalty for under-provisioning (alultartalékolás). The measure is applicable with immediate effect.
HNB allowing investment funds (befektetési alapok) to have access to HNB's long-term credit facilities with a term of 3, 6 or 12 months.
Announcement of a 1-week term deposit tender to improve the efficiency of the banking system’s liquidity management and support the reduction of banks’ overnight deposits
Lift of the capital buffers applicable to systematically important credit institutions as of July 1, 2020.
Eligibility for application
Central bank counterparties
Banks having a license in Hungary and Hungarian branch offices
Hungarian open-ended public investment funds
Central bank counterparties (jegybanki monetáris politikai partnerkör)
Hungarian systematically important credit institutions (hazai rendszerszinten jelentős hitelintézetek)
During the COVID-19 crisis
Submission of application
Banks may apply on tenders held by the HNB
Investment funds may apply through a partner credit institution or on tenders regularly held by the HNB
Banks may apply on tenders held by the HNB every Thursday
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