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Socialist Party asks EBA for opinion on Hungarian lending practices

Hungary's main opposition Socialist Party (MSzP) has asked the European Banking Authority (EBA) to examine Hungarian lending practices to determine if they conform to standard European practices, MSzP President Attila Mesterházy announced on Wednesday.

MSzP also initiated the establishment of an ad hoc parliamentary committee to monitor issues affecting foreign-currency borrowers in Hungary.

Mesterházy said the stand taken by EBA could operate as a starting point for legislative amendments. He added that his party plans to submit a package of proposals to help borrowers of foreign currency denominated loans to Parliament as early as Wednesday.

Minister of National Economy György Matolcsy on Tuesday requested EBA chief Andrea Enria to provide the ministry with an opinion regarding financial problems in Hungary stemming from household foreign currency debt.