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Committee supports changes to FX-loan bill

In Hungary

The legislative committee of Hungary's Parliament yesterday approved to a series of amendments to a bill on the settlement of refunds lenders must pay FX-loan borrowers under a law on debtors' relief approved early July.

The amendments were initiated by the Ministry of Justice. The full Parliament is scheduled to vote on the bill tomorrow. At the initiative of the National Judicial Office (OBH), the committee agreed in several cases to lengthen the periods in which banks must send borrowers the calculation of the settlement of their refunds, Justice Ministry state secretary Robert Repassy told the committee.

The committee also supported clarifying that establishing the new instalment payments on the loan is part of the settlement. It also agreed to propose a moratorium for banks to terminate retail loan contracts during the settlement period. The original bill already contains a moratorium on interest rates, fees or cost increases until April 30, 2016.

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