Commission approves extension of Hungarian liquidity scheme for banks

The Commission concluded that the scheme represents an appropriate means of remedying a serious disturbance in the Hungarian economy and is compatible with the Treaty.
EconomyThursday, 12:50 March 8., 2012 Read more

MKB board approves HUF 62bn capital raise

The board of MKB Bank has decided on a HUF 62bn capital raise through a private placement to be subscribed by majority owner BayernLB, the bank said late Friday.
BusinessMonday, 15:25 January 30., 2012 Read more

Raiffeisen Bank to make up for losses in Hungary

Raiffeisen Bank Group expects an early repayment scheme for foreign currency-denominate mortgages at discounted exchange rates to generate a loss of €55m-60m for its business in Hungary, but plans to make up for the loss "in the foreseeable future", CEO Herbert Stepic said in Thursday’s issue of Austrian business daily Wirtschaftsblatt.
FinanceThursday, 14:55 January 26., 2012 Read more

State, not banks, to manage "baby bonds" - paper

The government is drafting an amendment that would take management of "baby bonds" from banks and give it to the state.
EconomyThursday, 09:55 January 19., 2012 Read more

UPDATE - Vienna initiative participants discuss coordination of policies affecting emerging Europe

Public sector officials from within the European Bank Coordination "Vienna" Initiative met in Vienna on Monday with the aim to enhance the coordination of national policies affecting the economies of emerging Europe, the European Bank for Reconstruction and Development (EBRD) announced late on Monday.
FinanceTuesday, 15:35 January 17., 2012 Read more

Vienna initiative participants discuss coordination of policies affecting emerging Europe

Public sector officials from within the European Bank Coordination "Vienna" Initiative met in Vienna on Monday with the aim to enhance the coordination of national policies affecting the economies of emerging Europe, the European Bank for Reconstruction and Development (EBRD) announced late on Monday.
FinanceTuesday, 09:55 January 17., 2012 Read more

Fitch downgrades four Hungarian banks

Fitch Ratings on Thursday said it downgraded four Hungarian banks, about a week after it cut Hungary’s sovereign rating a notch under "investment grade".
FinanceThursday, 17:40 January 12., 2012 Read more

PSZAF clears Sberbank acquisition of Magyarorszagi Volksbank

Hungarian financial market watchdog PSZAF on Thursday said it cleared the acquisition of Magyarorszagi Volksbank by Sberbank of Russia.
FinanceThursday, 14:50 January 12., 2012 Read more

Write-downs at Hungarian unit expected to push BayernLB into red for 2011

Germany’s BayernLB on Thursday said it expects to close 2011 with a net loss because of write-downs at its Hungarian unit MKB Bank.
FinanceThursday, 14:40 January 12., 2012 Read more

Surplus liquidity of Hungary banking sector falls in December

Surplus forint liquidity of Hungary’s banking sector fell in December from a month earlier as currency in circulation rose in the run-up to the holidays and central bank forex swaps increased because banks diverted liquidity into overnight deposits as a cautionary measure, the National Bank of Hungary said in its preliminary statistical balance sheet published on Thursday.
FinanceThursday, 09:55 January 12., 2012 Read more

Bank deposits safe and secure, says govt spokesman

Bank deposits in Hungary are safe and secure, government spokesman Andras Giro-Szasz said on Friday.
EconomyFriday, 17:20 January 6., 2012 Read more

Spokesman rejects speculation govt has sights on individual bank accounts

The government categorically denies any speculation that the state intends to take control of individual savings accounts, Government Spokesman Andras Giro-Szasz said on a television program on Friday.
EconomyFriday, 11:35 January 6., 2012 Read more

Hungary banking system capital-strong, says Financial Stability Council

Hungary’s banking system is capital-strong and stable, and it has significant reserves at its disposal as a defense against unfavourable external effects, the Financial Stability Council established at a meeting on Thursday, the National Economy Ministry told MTI.
FinanceThursday, 17:45 January 5., 2012 Read more

120,000 borrowers seen paying off mortgage under govt scheme

About 120,000 people will elect by the December 30 deadline to participate in the government’s plan allowing borrowers to fully repay their foreign-currency-denominated mortgages at a preferential exchange rate, business daily Vilaggazdasag estimated on Thursday, based on data collected from six major banks.
FinanceThursday, 11:10 December 22., 2011 Read more

Moody’s downgrades FHB covered bonds

Moody’s Investors Service on Wednesday said it downgraded to Ba1 from Baa3 the covered bonds of FHB Mortgage Bank.
FinanceWednesday, 11:25 December 21., 2011 Read more

FHB expects new agreement with state to clear up matter of illegal state aid

Mortgage lender FHB on Thursday concluded a new agreement with the state on a capital injection that it expects will clear up any doubts the recapitalisation was not in line with European Union rules, the bank said late Friday.
BusinessMonday, 11:10 December 19., 2011 Read more

Moody’s downgrades five Hungarian banks

Moody’s Investors Service said late Friday it downgraded the deposit and debt ratings of Budapest Bank, K&H Bank, FHB Mortgage Bank, Erste Bank Hungary and MKB Bank.
BusinessMonday, 09:15 December 19., 2011 Read more

Bank association chairman says agreement to ease Hungary’s Swiss franc debt problem - Reuters

The conclusion of an agreement between Hungarian banks and the government on a repayment plan for borrowers with foreign-currency-denominated mortgages on Thursday is expected to significantly alleviate Hungary’s Swiss franc debt problem, Hungarian Bank Association Chairman Patai Mihaly told Reuters.
FinanceFriday, 10:30 December 16., 2011 Read more

Hungary govt, banks sign agreement on escape route for FX borrowers

The government and the Hungarian Banking Association signed an agreement on Thursday that gives an escape route to borrowers with foreign currency-denominated loans, National Economy Minister Gyorgy Matolcsy said.
FinanceThursday, 14:10 December 15., 2011 Read more

UPDATE - Hungary govt, banks sign agreement on escape route for FX borrowers

The government and the Hungarian Banking Association signed an agreement on Thursday that gives an escape route to borrowers with foreign currency-denominated loans, National Economy Minister Gyorgy Matolcsy said.
FinanceThursday, 14:10 December 15., 2011 Read more

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