MNB tightens withdrawal limit at DRB Bank group

Analysis

The National Bank of Hungary today reduced the limit on withdrawals from the members of troubled DRB Bank group to HUF 60,000 from the previous HUF 1 mln cap, the central bank said.

The commissioners were put in charge of the banks by the National bank of Hungary (MNB) after Buda-Cash brokerage’s operations were closed down on suspected misuse, and their brokerage license withdrawn. The banks are connected to Buda-Cash via ownership. 

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