The Central Bank’s operation last year was objectionable on several accounts, the supervisory board of the National Bank of Hungary (MNB) said in a report published on the Parliament’s website on Tuesday.
The supervisory board said the operation of the MNB was not transparent enough and its management did not give sufficient support to oversight to improve transparency.
The MNB’s wage policy disregarded government’s cost savings directive and its managers were paid more than their counterparts at commercial banks, the board said. The MNB’s spending on communications was unjustifiably high, it added.
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