FX borrowers open almost 11,000 exchange rate limit scheme accounts
Borrowers with foreign currency-denominated loans participating in an exchange rate limit program opened 10,827 special accounts related to the scheme by the end of May, fresh data published by financial market regulator PSzÁF show.
Under the exchange rate limit scheme, borrowers may opt to cap their repayments based on the limit. The difference between the rate of repayment and market rates is to be placed on a separate account for repayment later.
The number of special accounts opened rose by 4,280 in May, the first month the scheme was opened to private sector workers. The number of accounts rose by just 836 in the previous month.
The stock of loans registered for the exchange rate limit scheme came to HUF 102.7 billion at the end of May. Swiss franc-denominated loans accounted for HUF 97.4 billion of the stock.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
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.
