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Banking assoc supports ending blanket moratorium

Banking

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The Hungarian Banking Association agrees with and supports ending the blanket moratorium the government rolled out in the spring of 2020 due to the coronavirus pandemic, Radovan Jelasity, the head of the association, said yesterday, according to novekedes.hu.

Those who can should start making their repayments again, as the banks will support customers in taking a responsible decision on participation in the moratorium extended until June 3, 2022, Jelasity said.

The moratorium will continue for vulnerable borrowers, who have until the end of October to notify their banks that they intend to keep participating. According to data available to the banking association, seven out of 10 customers could be eligible to remain in the moratorium, but Jelasity believes that fewer will actually take up the opportunity so the number of participants will fall significantly from November.

General secretary Levente Kovács said the association had called for targeted support when the moratorium was first introduced.

The Hungarian bank sector has fulfilled its obligations responsibly since the state of emergency was declared; banks provided the possibility of the moratorium without delay and paid the special banking tax, he added.

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