Forex borrower groups initiate talks with banks

Sights

Civil organizations representing troubled borrowers with foreign currency-denominated loans are initiating talks with the Hungarian Banking Association to reach a solution by November 1, government commissioner for financial rights György Doubravszky said yesterday. 

The government has given banks until November 1 to come up with a solution for the problem of forex-based loans or the government will take unilateral steps. Doubravszky said five civil groups had joined the open initiative but more were expected to join, and stated that the civil groups welcomed the government's aim to find a solution to the problem of forex loans in the shortest time possible.

“They consider especially important and progressive the need, expressed by parliamentary group leader [of governing Fidesz] Antal Rogán and National Economy Minister Mihály Varga that financial institutions that provide foreign currency-based loans should first negotiate with their forex loan clients on proposals for possible solutions,” he said.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

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.