State Sec: Bank levy fees could be around HUF 130 bln in 2015

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Fees collected through the bank levy could contribute approximately HUF 130 billion to the central budget in 2015 and in 2016 this could fall to HUF 60 bln, Ágnes Hornung state secretary at the National Economy Ministry (NGM) told MTI late Saturday.

The government is expecting that the lower bank levy will encourage banks to increase their lending activity next year and in this way contribute to economic growth, said the state secretary.

Currently NGM is proposing that for banks with total assets above HUF 50 bln, the bank levy should drop from 0.53% to 0.24%. For banks with total assets under HUF 50 bln the bank levy should remain at 0.15%. 2009 will be used as the benchmark year for total assets in all cases in 2016.

According to Ágnes Hornung, the government has consulted with the European Commission on several occasions to ensure that it can honor its agreement made in February with the European Bank for Reconstruction and Development that the bank levy will be reduced next year compared to 2015.

According to the agreement signed with the EBRD, the bank levy should gradually increase until it reaches the European Union average.

Legislation concerning the bank levy fee rules for 2017 should be submitted to Parliament in the spring of 2016, the state secretary added.

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