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Gov’t submits Beva compensation bill

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Hungary’s National Economy Minister Mihály Varga yesterday submitted a bill to Parliament that would raise the compensation threshold of the Investor Protection Fund (Beva) from €20,000 to €100,000.

Under the bill investors would receive 100% compensation up to HUF 1 mln and 90% over that amount, and the bill would also mandate the staff of the National Deposit Insurance Fund (OBA) to carry out the tasks of Beva.

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