National Bank of Hungary requires data provision on early FX repayment scheme


The National Bank of Hungary (MNB) has issued a decree requiring lenders of foreign currency denominated loans to supply it with information on an early forex mortgage repayment scheme on a weekly basis.

Under the decree, published on Monday, lenders will start supplying the data on October 11. Lenders must detail any rise or fall in foreign liabilities; the number and value of forex loans repaid early as well as current exchange rates; and the number of borrowers who applied to avail of the early repayment scheme, the value of their loans and details on forint loans taken out to repay the forex mortgages, including whether the loans involved are for an earlier client or replace a loan of another lender.

The government scheme, launched at the end of September, allows early repayment of foreign currency-based mortgages at a discounted exchange rate until the end of 2011. Lenders are covering the difference between the discounted exchange rate and the market rate.

The MNB on Monday held the first of a series of euro tenders to ensure banks have sufficient liquidity for the early repayment scheme. Provision of the data is a prerequisite for participation in the tenders.

Paks II Work 'Rumbling Ahead,' Says Szijjártó Power

Paks II Work 'Rumbling Ahead,' Says Szijjártó

Hungary to Host Next EPC Summit Int’l Relations

Hungary to Host Next EPC Summit

New Tenants at Academia Offices Office Market

New Tenants at Academia Offices

Visitor Numbers, Guest Nights Climb in H1 Tourism

Visitor Numbers, Guest Nights Climb in H1


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.