Mortgage aid program committee holds first meeting
The Home Protection Monitoring Committee held its first session on Friday, Prime Ministerial Spokesman Péter Szijjártó announced on Friday.
The committee was established earlier this month to oversee implementation of the government's assistance program to help Hungarians repay foreign-currency-denominated mortgages by freezing CHF, EUR and JPY exchange rates for repayment purposes for three years. The part of debt thus resulting from the difference between the frozen and the actual exchange rates will be settled after the expiry of the program.
Szijjártó said that the committee, composed of National Bank of Hungary Vice Governor Júlia Király, Hungarian Financial Supervisory Authority Vice President Laszlo Balogh and National Economy Ministry State Secretary András Kármán, will meet twice a month.
Szijjártó said that the committee intends to pay particular attention to regulatory issues pertaining to the transparency of formulating interest rates on mortgages, competition between banks and consumer protection. If the committee sees actions by banks harming debtors, it may propose immediate measures to the government, the spokesman added.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.