BUDAPEST, March 20 (Reuters) - Hungary's central bank
said on Monday that in order to ensure the transition of banks
to its new minimum reserve requirement system, it would
temporarily waive the daily 10 percent reserve requirement from
April 1 to 5.
The NBH said in a statement that it would grant the
exemption to all banks subject to reserve requirements. The
central bank said in January that it would raise commercial
banks' mandatory reserve ratio to 10% from April. "The exemption does not affect the amount of the monthly
average reserve requirement," it added on Monday.
(Reporting by Krisztina Than)
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