Govt plans to merge MNB and PSZAF under new organization

Sights

Parliament’s Constitutional Affairs Committee on Wednesday evening decided to submit an amendment to parliament that would merge the duties and authority of the National Bank of Hungary (MNB) and financial market regulator PSZAF under a newly established organization.

The president of the republic would name the president of the new organization, while the governor of the MNB and the chairman of PSZAF would serve as the organization’s vice presidents.

Parliament could vote on the proposed amendment during its extraordinary session on Friday. The new organization would be established via the adoption of a so-called cardinal law requiring a two-thirds majority.

Andras Simor currently serves as the governor of the MNB, while Karoly Szasz serves as the chairman of PSZAF.

Telco, Banking Sectors Drive Service Price Inflation in Spri... MNB

Telco, Banking Sectors Drive Service Price Inflation in Spri...

EC to Propose Opening Excessive Deficit Procedure Against Hu... EU

EC to Propose Opening Excessive Deficit Procedure Against Hu...

New CEO at the Helm of Citibank Europe Appointments

New CEO at the Helm of Citibank Europe

Int'l Travelers to Europe Prioritize Safety, Quality This Su... Tourism

Int'l Travelers to Europe Prioritize Safety, Quality This Su...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.