MNB launches probe of higher repayments for exchange rate cap scheme participants
The National Bank of Hungary (MNB) yesterday said it launched an investigation after receiving information that some lenders had, in the course of settling borrowers relief compensation and the conversion of FX mortgages into forints, raised the repayments of many clients who earlier participated in an exchange rate cap scheme, Hungarian news agency MTI reported.
Under the law on the conversion of FX mortgages, repayment of borrowers who joined the exchange rate cap scheme may not rise for a period of five years from the time a fixed exchange rate for the conversion was put into effect in February, the MNB noted.
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.