MAGYAR NEMZETI BANK
Recording off-balance sheet securities transactions HUF millions
Balance
Description
31 Dec 2019
Face value of securities lent - automatic securities lending Face value of securities lent - agency securities lending Purchase cost of the non-cash hedge arising from security lending transactions Purchase cost of investment of cash hedge arising from security lending transactions Market value of investment of cash hedge arising from security lending transactions Face value of securities bought under repo transactions Face value of securities sold under reverse repo and blocked to ECB repo transactions
31 Dec 2020
Change
3,998 371,471 12,395
6,357 216,668 18,987
2,359 -154,803 6,592
367,963
205,179
-162,784
367,963
205,179
-162,784
31,489
1,412
-30,077
0
1,394,246
1,394,246
4.18 NET INTEREST INCOME AND REALISED NET INCOME OF FINANCIAL OPERATIONS Net forint and foreign currency interest and interest-related income HUF millions
P/L line
Description
2019
2020
Change
(I.1.+II.2.)—(X.1.+XI.1.)
Central government
1,059
4,240
3,181
(I.2.+II.3.)—(X.2.+XI.2.)
Credit institutions
5,001
-7,557
-12,558
Other
73,073
82,333
9,260
Net profit/loss from interest
79,133
79,016
-117
Forint securities
-3,404
-8,659
-5,255
-24,918
-35,142
-10,224
-1,425
5,424
6,849
61
22
-39
-29,686
-38,355
-8,669
49,447
40,661
-8,786
(I.3.+II.1.+II.4.)— (X.3.+XI.3.)
Foreign currency securities Derivative transactions for hedging and other purposes* Other (I.4.+II.5.)—(X.4.+XI.4.) (I.+II.)—(X.+XI.)
Net interest-related profit/loss Net interest and interest-related income
* For details on derivative transactions for hedging and other purposes, see the related table in this section.
In 2020, the MNB recorded a net interest and interest-related profit of HUF 40.7 billion, representing a decline of HUF 8.8 billion compared to the figure for end-2019. Net interest income decreased by HUF 0.1 billion versus end-2019, as a combined effect of the following: The main positive factors in net interest income were: – a n increase in interest income on loans to credit institutions and mortgage bonds in the amount of HUF 12.3 billion, as a result of the new collateralised loans with long-term maturity and of the mortgage bond purchase programme (at the same time, the amortised net purchase price loss, recognised among net interest-related expenses, rose by HUF 0.9 billion in 2020); – forint interest received from the central government was HUF 8 billion higher compared to 2019, resulting from the larger stock of government bonds (which was, however, reduced by the amortised net purchase price loss of HUF 1.9 billion, recognised among net interest-related expenses); 128
ANNUAL REPORT • 2020
