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Bourse seeks disclosure from OTP, FHB

The CEO of the Budapest Stock Exchange ordered OTP Bank and FHB Bank to disclose the reasons for the suspension of their shares on Monday.

"The CEO obliges the Issuer to disclose the extraordinary information necessitating the suspension of trading in accordance with the Exchange regulations," György Mohai said. "In the case such information is released prior to the end of the suspension period, the CEO may resolve to resume trading in the issuer's ordinary shares," he added.

OTP and FHB asked for the suspension because of information to be made public in the course of the day, without providing any further details.

Prime Minister Viktor Orbán is expected to reveal on Monday details of a plan allowing Hungarians with foreign currency-denominated mortgages to pay back their loans in a single installment at a fixed exchange rate. The measure was proposed by the governing Fidesz-KDNP alliance on Friday.

OTP lost 10.7% and FHB lost 5.5% on Friday.