The compensation, up to Bevaʼs EUR 20,000 coverage threshold, will start being paid on July 13, Beva said. Further compensation of almost HUF 100 bln from a top-up fund earlier approved by Parliament and raising the threshold to EUR 100,000 can start after a case before the Constitutional Court is wound up, Beva added.
“The Constitutional Court procedure is such a circumstance that, as a result, financing of the [top-up] compensation is solvable neither from the central bank nor the market,” Beva said. Beva noted that it is taking out a HUF 110 bln three-month bridging loan from the National Bank of Hungary to cover compensation of up to EUR 20,000 each for clients of Quaestor, as well as its failed peers Buda-Cash and Hungaria Securities.
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