The subject of our study is market liquidity, which is an important element of the functioning of financial markets. Adequate liquidity of markets is of great significance from the point of view of both market participants and the central bank. On the one hand, of all market segments an...

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...