Fidesz MP proposes tighter interest spread on converted loans
The parliamentary group of the governing Fidesz party will initiate a tightening of the bill on FX loan conversions to prevent banks from circumventing the obligations to refund borrowers, group leader Antal Rogán told MTI on Thursday.
The Fidesz MPs want to narrow the interest spread banks can use by nearly one percentage point, he said. Under the conversion bill before Parliament, banks will have to apply an interest rate pegged to the three-month BUBOR. The spread over the BUBOR should be the same as on the original loan, but is limited to a range of 2-5.5% for home mortgages and 2-7% for other mortgages.
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.