MNB to limit banks’ operation if business model deemed 'unsustainable'

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A new department has been created in the Financial Institutions’ Supervision directorate of the National Bank of Hungary (MNB), to analyze in detail the business model of banks, István Binder said in an interview with vg.hu yesterday.

The new approach to be adopted by MNB will allow the national bank to identify risks associated with banks faster and in a more accurate manner. The new method will focus on individual banks instead of the banking system as a whole, Binder added. MNB will have the right to force banks to accept changes in their strategies or in their operation and could even force a bank to replace members of their executive team.

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