Banking Association to mull amendments submitted to fx-repayment cap scheme

Telco

The board of the Hungarian Banking Association discussed on Monday the amendments submitted by Fidesz MP Antal Rogán to extend the fx-repayment cap scheme, but it will not form its position until later this week, officials from the Association told MTI.

Fidesz MP Antal Rogán initially submitted a proposal that would replace the previous condition that the value of homes for which mortgages were received not exceed HUF 30 million with a new stipulation limiting eligibility to borrowers who took out foreign-currency-denominated mortgages of a value not exceeding the equivalent of HUF 30 million.

Later on, Rogán submitted another two amendments proposing altogether three possible thresholds for participation in the repayment scheme. Rogán said MPs could choose one from the three options after the opinion of the Hungarian Banking Association was known.

The justification attached to the amendments pointed out that the lowest, HUF 15 million threshold would make the scheme available to 85% of borrowers, while the HUF 20 million threshold would raise the percentage to 95% and the HUF 30 million threshold would make 99% of borrowers eligible.

The Hungarian Banking Association said earlier that it would take a stand on the matter on March 5.

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