text: Hungary o / n rates end up before Dec 10 tax payment. BUDAPEST 1996-12-06 
   Hungarian overnight interest rates closed higher on Friday as market liquidity tightened before the December 10 social security contribution payment deadline, dealers said. " The banks are already preparing for the December 10 tax payment, " said Budapest Bank's Sandor Tolonics. " 
   They expect a larger-than-average payment. " 
   The overnight market opened at 22. 00 / 22. 75 percent, then substantial money was taken up at 22. 5 percent. But later, rates dropped and closed at 22. 00 / 22. 25 as a large bank finished borrowing money. On Thursday, overnight rates moved between 21. 625 and 22. 125. Dealers said liquidity could tighten further early next week as the social security contribution payments date approaches. --Sandor Peto, Budapest newsroom (36 1) 327 4040
competitors: Hungary BUDAPEST Hungarian Budapest Bank Sandor Tolonics Sandor Peto Budapest