MNB seeks to raise Beva coverage to €100,000

Issues

The National Bank of Hungary (MNB) today said it is initiating amendments to legislation that would raise the insured threshold of the Investor Protection Fund (Beva) from €20,000 to €100,000.

The amendments would also accelerate the process of Bevaʼs compensation to match that of the National Deposit Insurance Fund (OBA), the central bank said.

The National Bank of Hungary (MNB) could turn to the court to defend Quaestor clientsʼ right to compensation if it fails to convince the board of the Investor Protection Fund (Beva) of its legal stand on the matter, central bank deputy governor László Windisch told Hungarian news agency MTI on April 2.

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