ADVERTISEMENT

Gov’t to extend eviction moratorium, banks opposed

Initiatives

The Hungarian Banking Association said it does not support an extension of a moratorium on evictions in a statement on Tuesday. The association called the moratorium a “faulty device” and said that the government had failed to consult with banks on the matter as promised in an earlier pact. It added that the measure would reduce economic predictability.
    Government commissioner for financial rights György Doubravszky last week proposed extending the moratorium on evictions by 45 days from March 1. He urged talks between the government, the Hungarian Banking Association and civil groups to address concerns over troubled borrowers with FX loans, and suggested further extensions of the moratorium could be necessary depending on the outcome of the talks.
    The association said it is committed to solving the problems of troubled FX borrowers and noted it actively participated in an exchange rate limit scheme, the conversion of non-performing FX home loans into forint ones, and the establishment of a state asset manager to buy homes up for foreclosure. Banks also have their own assistance programs that, together with the government-sponsored programs, have been applied to the cases of several hundred thousand borrowers, it added.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.