Bloomberg: Often Criticized Hungarian PM Now Hailed As A Hero
Hungarian Prime Minister Viktor Orbán, often criticized for punishing banks, is being hailed as a hero for warding off financial disaster with his quest to rid the country of mortgages worth billions...
View ArticleEconomy Minister: Car Owners Should Renegotiate Forex Loans On Their Own
Car owners who took out loans in foreign currency and are struggling to service their debt in wake of forint weakness should negotiate with their lenders, Economy Minister Mihály Varga told public...
View ArticleHungary’s Escape From Forex Loan Disaster Becomes An Example To Follow In...
The governments of several central European countries have asked for information from Hungary’s Economy Ministry concerning how Hungary is phasing out foreign currency retail loans, the ministry said....
View ArticleEconomy Minister: Hungary’s Measures On Forex Loans Spare Around 1 Trillion...
The government’s measures to shield foreign currency loan-holders have saved Hungary a total of around 1,000 billion forints, the economy minister said. Mihály Varga told public television M1 that...
View ArticleCentral Bank: No Need For Special Measures Because Of Strengthening Swiss Franc
In the short term, no central bank measures are necessary on the domestic investment market because of the sharp strengthening of the Swiss franc, the National Bank of Hungary (MNB) said. Data...
View ArticleConstitutional Court Rejects Request To Annul Legislation On Forex Loans
Hungary’s Constitutional Court has rejected a request to annul some parts of legislation on retail loan contracts. The Metropolitan Appeals Court had submitted the request in connection with court...
View ArticleRogán: February Brings Important Change For Forex Loan Holders
February 1 is an important date for forex loan holders because in line with the laws on conversion to forints, their instalments from next month will be calculated at the fixed rate, ruling Fidesz...
View ArticleForex loans: Banks To Start Compensation Process This Week
As of this week, bank customers will feel some tangible effects as banks are to repay income generated by unfair, unilateral modifications to contracts and by exploiting bid-ask exchange rate gaps,...
View ArticleConstitutional Court Approves Legislation On Forex Loans
Hungary’s Constitutional Court said the use of exchange rate margins in calculating repayments on forex loans was in line with the constitution. The court said that provisions in borrowers’ relief...
View ArticleHungarian Central Bank Sets Aside €1,1 Billion To Phase Out Car And Personal...
Hungary’s central bank (MNB) is setting aside 1.1 billion euros in foreign currency for banks involved in converting retail vehicle and personal loans into Hungarian forints. Banks can keep the amount...
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