Fidesz to propose removing deadline for entering fx exchange-rate limit program

Initiatives

The governing party Fidesz will submit a proposal to parliament on Sunday to remove the deadline for entering the government's exchange-rate limit repayment program for borrowers with loans denominated in foreign currency, Fidesz parliamentary caucus leader Antal Rogán announced on Friday. Rogán said that parliament would be able to adopt the proposal on Monday. The proposal will eliminate the current May 31 deadline for entering the program under which those with fx loans can cap their repayments based on a temporary exchange-rate limit and repay the difference between the latter rate and the actual rate at a later time. The Hungarian Financial Supervisory Authority announced on May 10 that more than 150,000 borrowers, or nearly 38% of those eligible, had entered the exchange-rate limit program through the end of March.

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