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Govt to submit bill on new bank regulation

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A bill that aims to establish new regulation for Hungary’s banking system will soon come before Parliament, Prime Minister Viktor Orbán said in a statement after a European Union summit on Wednesday.

Recent events teach a lesson that something has gone wrong with the European banking system, Mr Orbán said in the statement published on his Facebook page on Thursday. Financial institutions cannot turn to the people of Europe for help every three years, thus the regulatory framework in which they operate must be renewed, he said.

This work is ongoing in Hungary, and a bill on banking system regulation will soon be submitted to Parliament, Orbán said.

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