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MNBʼs Financial Stability Board restricts dividend payments

The Financial Stability Board of the National Bank of Hungary (MNB) has adopted a comprehensive package of measures to mitigate the effects of the crisis on the financial intermediary sector, the central bank said on its website, reports

The package reduces the administrative burden on banks and allows for flexible management of macro and micro prudential rules.

This will help to overcome the expected temporary difficulties and maintain the lending capacity of the banking system.

The latter will also be strengthened by temporary restrictions on dividend payments and tightening of regulatory limits on foreign currency financing, the MNB statement states.