Budapest Business Journal
Central bank: Hungarian system “highly stable”
The National Bank of Hungary has deemed the domestic banking system “highly stable” in its just-released biannual Report on Financial Stability; study authors also reckoned that forex-loan debt is one of the biggest risks to continuing said stability...
House Speaker: Finance deficit must stay under 3%
In an interview with daily newspaper Fejér Megyei Hírlap, House Speaker László Kövér stated emphatically that the sitting government is committed to holding the country’s public finance deficit to less than 3% of the national GDP...
Csányi’s OTP selloff: Rumors fly, rift with Orbán theorized
The plot thickens in the Sándor Csányi story: The OTP CEO's hurried dumping of nearly 2 million shares in the bank last Friday shook the BSE and has cause a 12.6% loss in the stock's value. Today, speculation is rife on the state of Csányi's health, his future plans and his reportedly recently troubled relationship with the prime minister...
Hungarian SMEs still undertake foreign currency risk
Hungarian enterprises' sentiment towards loans changed positively due to the "Funding for Growth Scheme" of the National Bank of Hungary (MNB), but investment rate will grow only in the longer term, experts of Raiffeisen Bank said on Tuesday.
Demján to Orbán: Savings cooperative law must change
OTSz chairman Sándor Demján has again appealed to Prime Minister Viktor Orbán, calling for changes to the now-approved law on the integration of saving cooperatives.
Kúria postpones decision on FX borrower vs OTP Bank
Hungary's supreme court, the Kúria, on Tuesday postponed until July 4 a decision on a case brought against OTP Bank by a client with a foreign currency-denominated loan.
MNB aims to raise financial savvy of secondary school students
Hungary's central bank will distribute a publication that aims to increase financial awareness to all eleventh-graders in Hungarian schools by the end of April
Hungary could renew part of FX debt to support MNB plan
ungary's state debt management agency ÁKK could support central bank plans to help the economy by renewing some of its expiring foreign currency debt in forint-denominated bonds
About 31% of borrowers opted for exchange rate limit scheme
About 31% of eligible borrowers with foreign currency-denominated loans opted to join an exchange rate limit scheme by the end of February
Eximbank assets could reach HUF 1,200 bln in three years
Total assets of the Hungarian Export-Import Bank could rise from HUF 190 billion last summer to HUF 1,200 billion by 2016
Only banks in Hungary should buy MNB-bills
Hungary's central bank should only allow banks operating in Hungary to buy the central bank's two-week bills and it should cut access to the key central bank facility for foreign banks who don't have operations in the country
MNB deputy-gov resigns
National Bank of Hungary deputy-governor Júlia Király – the only remaining member of the central bank's rate-setting Monetary Council not appointed under the present government – announced her resignation because of changes made under recently appointed governor György Matolcsy
MNB announces measures to boost lending
The National Bank of Hungary unveiled a package of measures dubbed “Funding for Growth Scheme"
Cyprus Parliament to probe alleged loan write-offs
Cypriot MPs will investigate a list of several million euros of alleged loans to politicians and others said to have been written off by the two banks at the centre of the island’s financial crisis
Hungary 2012 general gov’t deficit 2.0% of GDP
Hungary had a general government deficit of HUF 566.7 billion or 2.0% of GDP last year
Cyprus’s banks open after two weeks as controls curb panic
Cyprus’s banks opened for the first time in almost two weeks, with new rules curbing access to cash preventing an initial panic to withdraw deposits
Hungary’s MOL signs $480 mln revolving credit deal
Hungarian oil and gas group MOL has signed a $480 million revolving multi-currency credit agreement
MNB lowers all projections of inflation in 2013
The National Bank of Hungary lowered projections for all gauges of consumer inflation this year
Serbia to shut down RVB bank, transfer assets, loans, official says
The Serbian troubled Razvojna Banka Vojvodine (RVB) will cease to exist next month, after it transfers its assets, clients and loans to another bank and loans to a special fund