Gov't Extends Deposit Rate Cap Till Year-end

Government

Image by Shutterstock.com

The government has decided to extend a cap on interest rates on deposits of institutional investors and some private individuals until the end of the year, the Economic Development Ministry said on Monday, according to a report by state news wire MTI.

The cap, set at the average three-month discount T-bill yield, was rolled out on November 22, 2022. It had been set to expire on September 30.

The cap applies to institutional investors, pension funds, insurers, and investment funds, as well as to retail banking clients with HUF 20 million or more on their accounts.

The government also decided to extend a prohibition on the unrestricted transfer of central bank discount bills until the end of the year, the ministry said.

Value of Bank Card Payments Climbs 8% in Q1 Banking

Value of Bank Card Payments Climbs 8% in Q1

Karácsony Submits Motion for Budapest Mayoral Election Repea... Elections

Karácsony Submits Motion for Budapest Mayoral Election Repea...

OMV Network to Get New, Modern Look in CEE Retail

OMV Network to Get New, Modern Look in CEE

Sziget Festival Returning With a Bang in 2024 In Budapest

Sziget Festival Returning With a Bang in 2024

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.