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Bank Association to look into PSzÁF proposal on conversions of CHF-based loans

The Hungarian Banking Association will likely announce its opinion on a proposal by financial market regulator PSzÁF to ease the conditions for borrowers to convert loans denominated in Swiss francs or other currencies to euros, the financial daily Világgazdaság reported on Tuesday.

Forming a professional opinion could take several days due to the complexity of the matter, banking association chief advisor János Müller told the daily.

Converting the loans would make repayments more stable and predictable as volatility of the HUF/CHF exchange rate has “well exceeded” that of the HUF/EUR rate during the recent period, said PSzÁF head Károly Szász in a letter to banks. The letter included detailed suggestion on the ways banks could ease the conditions of the conversion. (MTI-Econews)