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Banking Association sends proposal to ease burdens of FX borrowers to gov’t

Initiatives

The board of the Hungarian Banking Association sent its proposals aimed at easing the burdens of troubled retail borrowers with foreign currency-denominated mortgage loans to Prime Minister Viktor Orban and National Economy Minister Gyorgy Matolcsy on Thursday, the Banking Association told MTI on Friday.

The statement said the pillars of the proposal package take into consideration the criterion of financial stability and social responsibility, the principle of the reasonable and fair distribution of burdens, offering a substantial sharing of the burdens on behalf of the bank sector.

The board of the Banking Association said they would not provide any details on the proposal package until they receive feedback from the government on acceptance of the proposals. The elements of the proposals are thoroughly interrelated, so they could be handled only as a whole, the association said.

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