The fund said it would pay compensations up to €20,000 per client and would awards 100% of losses up to 1 mln and 90% over that until they reach their threshold. According to Beva the euro threshold would be calculated using the official National Bank of Hungary (MNB) fixing on March 5, when the scandal-ridden brokerage began winding up.
The exchange rate of the day was 305.27 forints to the euro. In accordance with this rate, the threshold is determined at HUF 6,105,400
Producing journalism that is worthy of the name is a costly business. For over 30 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.
