Hungary central bank allots HUF 60bn worth of fixed-rate IRS tool

BUDAPEST: Hungary's central bank has accepted bids worth 60 billion forints ($241.11 million) for its new fixed-rate interest rate swaps at a tender on Thursday, it said on its website.

The bank accepted 10 billion forints worth of bids for the 5-year interest rate swaps, offered at a fixed rate of 0.46 percent, and 50 billion forints for the 10-year IRS, offered at 1.17 percent.

The new swaps are part of the bank's monetary policy tools announced in November, which also includes buying of mortgage bonds.