The basic purpose of this study is to didactically demonstrate the factors shaping the currency swap stock of domestic banks prior to the crisis and to provide a descriptive analysis of how the structure and the functioning of the market changed during the crisis. The main conclusions of the...

What do interbank reference rates show and why do they play a prominent role? Why was the reform of BUBOR (Budapest Interbank Offered Rate) necessary and what were the reform steps taken by the central bank of Hungary (Magyar Nemzeti Bank – MNB) ? In this study, we seek answers to these and...

MNB has received daily, transaction-level data on key Hungarian interest rate derivatives markets since the beginning of 2009 with the launching of the K14 report. The dataset that has accumulated since early 2009 provides an opportunity to better comprehend the structure and functioning of...

This article briefly presents the general practice of lending surveys aimed at revealing loan supply behaviour, as well as the literature analysing their usability. The focus of our analysis is the so-called Lending Survey (SLO), conducted by the MNB since 2003. In the context of our backtesting...