Lenders' share of corporate loans falling to 4%
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The share of lenders' stock of corporate loans under a repayment moratorium is expected to fall from 20% to 4% after participation limits are introduced from November 1, National Bank of Hungary department head János Szakács said, presenting the central bank's annual macroprudential report, according to novekedes.hu.
Szakács said the rate of retail credit under the moratorium is set to drop from 30% to 23%.
Hungary's government rolled out a blanket repayment moratorium in the spring of 2020 to ease fallout from the coronavirus crisis.
From November 1, participation in the moratorium will be limited to retail borrowers whose incomes have fallen, the jobless, pensioners, and parents raising children, while corporate borrowers must show a 25% fall in revenue to join.
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