MNB looking to rent, not purchase, foreign offices

History

Jessica Fejos

The National Bank of Hungary (MNB) will rent, not buy, property for its foreign offices, central bank governor György Matolcsy said in written answers to an MPʼs questions on Tuesday, Hungarian news agency MTI reported yesterday. 

(Photo: Jessica Fejos)

The MNBʼs board has already approved the necessary funding, Matolcsy said, responding to a number of queries by Erzsébet Schmuck, an MP of opposition LMP, posted on the Parliament’s website. Matolcsy did not provide details on the cost of the offices, explaining that the expenditure is included only in aggregate form in the MNBʼs 2015 budget.

The MNB opened international offices in Hamburg and Paris in the summer. An office in Rome is set to open in the coming days, followed by ones in New York, Buenos Aires and Beirut "in the coming months". In past few years, the MNB has maintained offices in Tokyo, Frankfurt, New York, Paris, Zurich, London and Beirut.

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