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Banking association warns of possible decline in working capital outlays

Government decisions reversing a planned reduction of the bank levy and increasing a financial transactions duty could weigh on working capital lending, Hungarian Banking Association chief secretary Levente Kovács said on Wednesday.

The measures could reduce banks' working capital outlays which came to HUF 2,000 billion in Q1-Q3, Kovács said. He added that Hungarian banks' foreign parents had so far injected about €2 billion into their units to cover losses.