Hungary discontinues bond purchasing scheme
The National Bank of Hungary on Monday said it planned to discontinue a mortgage bond purchasing programme next year after the scheme to foster forint lending in Hungary failed to live up to expectations.
The central bank said that although the mortgage bond purchase programme had contributed to a decline in yield spreads on forint mortgage bonds, "no significant progress has been made in facilitating domestic banks' access to long-term forint funding, due to the small quantity of bonds issued
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