PSzÁF president says authority could work well in merger with central bank

History

The Hungarian Financial Supervisory Authority (PSzÁF) could continue to operate effectively if merged with the National Bank of Hungary (MNB), PSzÁF President Károly Szász said on Thursday. “If this step can still improve the presently good work (of PSzÁF), I will be happy, if such a step happens,” Szász said. Szász said that PSzÁF would function well in merger with the MNB if the authority's functions remained distinct from those of the central bank. Governing Fidesz parliamentary caucus leader Antal Rogán announced on April 18 that the government is considering the possible merger of PSzÁF and the MNB. MNB Governor György Matolcsy said on April 25 that he would support such a merger if initiated by the government or governing Fidesz-KDNP coalition.

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