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MNB fines FHB Jelzálogbank HUF 70 mln

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The National Bank of Hungary (MNB) announced today that it had fined FHB Jelzálogbank HUF 70 mln for problems the central bank found concerning system recoverability following IT incidents, data backup and the risk assessment of security threats, Hungarian news agency MTI reported.

MNB also objected to some of the accounting standards and compliance practices used and insufficient data and information provided by FHB Jelzálogbank  The central bank ordered FHB to correct shortfalls by March 31, 2016.

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