MNB posts historic $4.74 billion loss in 2023

Central bank act amendment precludes immediate recapitalisation

Hungarian National Bank

The Central Bank of Hungary (MNB) incurred a loss of 1,763 trillion forints ($4.74 billion) in 2023, the largest loss since its foundation, it said on May 21.

Some 93.2% of the losses, or 1,643 trillion forints, was paid out in interest payments to commercial banks. This is the third consecutive year that the MNB has posted losses.

“During the management of the coronavirus crisis, the MNB injected more than 11 trillion forints of long-term, fixed-rate funding into the Hungarian economy, enabling

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