MNB stipulates application of EU capital requirements for lenders, investment companies from January
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The National Bank of Hungary (MNB) has issued a decree outlining the requirements for the application of European Union capital resources for credit institutions and investment companies from January 2016 - following a provisional period of almost two years - in order to ensure compliance with the more stringent and uniform EU regulations as soon as possible, the MNB announced today.
The MNB said the Hungarian banking sector is prepared to comply with the requirements set by the European Union.
Prescribing higher capital requirements will help the Hungarian financial sector comply with European Union requirements sooner while also improving the sectorĘĽs stability and assessment, the MNB added.
The MNB decree was published in the official gazette, Magyar Közlöny yesterday.
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