Financial Authority on Foreign Currency-denominated Loans

The Hungarian Financial Supervisory Authority (PSZÁF) suggests that banks should use either their own official middle rate or the one of the Central Bank when calculating the monthly reimbursement of debtors.

Over the past two years, the price of foreign currency denominated loans swung heavily by the push and pull effects of high forint volatility. Debtors who took their loans in Swiss franc or euro may be under the pressure of 20 pct loss of the national currency value.
The recently inaugurated Hungarian government made the support of heavily indebted families a high priority on its agenda and started discussions with the actors of the financial sector to establish a system that will mitigate the critical situation of many families.

 

News Monitoring