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MNB publishes fair banking indicators on website

The National Bank of Hungary (MNB) published the values of the so-called fair banking indicators on its website for the first time on Friday, MTI news agency reported. The values of the indicators specify the maximum changes banks are allowed to make to lending interest rates and margins in the new interest period established under recently approved legislation on fair banks.

From this point forward the MNB will publish the indicator values on the 5th of every month. The fair banks legislation, approved by Parliament in November, locks in interest rates for loans under three years and requires lenders to use indicators, approved by the central bank, to calculate rate changes for loans with longer terms.