More Hungarians open securities accounts with Treasury

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Photo by parlanteste/Shutterstock.com

The balances of retail government securities accounts at the Hungarian State Treasury rose to HUF 2 trillion last year from HUF 500 billion in 2013, Finance Ministry state secretary András Tállai told state news wire MTI.

Photo: Parlanteste/Shutterstock.com

The number of retail accounts at the Treasury increased from 130,000 to over 450,000 during the period, Tállai said.

He noted that the Treasury accounts are free of charge, whereas the National Bank of Hungary estimates that securities accounts at commercial banks cost the average household HUF 16,000 per year.

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