MNB orders DRB Bank members to halt operations for a day
The Hungarian central bank ordered the four regional members of the DRB Bank Group to halt operations for a day on the initiative of oversight commissioners.
The commissioners were put in charge of the banks by the National bank of Hungary (MNB) after Buda-Cash brokerage’s operations were closed down on suspected misuse, and their brokerage license withdrawn.
The banks are connected to Buda-Cash via ownership. The central bank also placed a HUF 1 mln cap on withdrawals at the four DRB banks under investigation.
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.