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Hungary banking system capital-strong, says Financial Stability Council

Hungary’s banking system is capital-strong and stable, and it has significant reserves at its disposal as a defense against unfavourable external effects, the Financial Stability Council established at a meeting on Thursday, the National Economy Ministry told MTI.

The council, made up of financial market watchdog PSZAF head Karoly Szasz, National Bank of Hungary governor Andras Simor and National Economy Ministry Gyorgy Matolcsy, met on Thursday. Minister without portfolio in charge of Hungary’s talks with the IMF and EU Tamas Fellegi and Hungarian Banking Association chairman Daniel Gyuris also participated at the meeting.

All of the participants were in full agreement that the Hungarian financial intermediary system continued to fulfill its tasks smoothly.