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Survey: 63% support three-way fix for forex loans

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Almost two-thirds of Hungarians support a solution to the country’s forex-based loan problem that involves the participation of banks, the state and borrowers, daily Magyar Nemzet said on Thursday.

The ’paper reported that a survey by Bankmonitor showed 63% of households support a solution that involves all three parties.

The survey showed 20% think the state and banks should share the burden of a bailout and 16% believe banks ought to bear the full cost.

The government has given banks until November 1 to produce a solution to the problem based on consultations with borrowers.

Swiss franc-denominated loans were once the most popular retail lending product in Hungary before a weaker forint raised the size of repayments and put many households at risk of default.

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