Bálint Dancsik, the head of the Macroprudential Analysis Department at the National Bank of Hungary (MNB), made the comments at an online press conference, according to profitline.hu.
He also highlighted stagflation, a sharp rise in interest rates, a deterioration in the quality of portfolios, and regulatory risks.
Dancsik emphasized that the liquidity reserve of the Hungarian banking system is high, and its capital adequacy ratio is stable, rising to 18.6% by the end of last year, which provides security even in the event of a protracted crisis.
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