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Central bank supervisory board finds "irregularities"

The supervisory board of the National Bank of Hungary (MNB) has found a number of irregularities, suspected abuse of power and conflicts of interest in the management of the central bank and contracts it signed, supervisory board chairman Zsigmond Jarai told MTI on Monday.

The board made the discoveries at a meeting on April 1, Jarai said. The board reviewed "unacceptable and unjustified" costs related to changes to the bank's profile and emblem, he said. A "number of conflicts of interest" came to light in a communications contract between the bank and Braun&Partners Social Branding, he added.

The board found decisions regarding the MNB Mint were unprofessional and generated additional costs and suggested it would better off under direct state ownership.

The board continues to maintain that the high salaries of MNB managers are unreasonable and unjustified, Jarai said.