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PSZAF head proposes regulation of conversion rate banks use for foreign-currency loans.
(From Hungarian News Agency (MTI))
Budapest, July 8, 2010 (MTI-ECONEWS) - Hungary should adopt regulations which will make it compulsory for banks to use a designated midrate -- the National Bank of Hungary's (NBH) daily fixing or the bank's ownd midrate -- to convert payments related to foreign currency-based loans into forints, Karoly Szasz, the recently re-appointed president of Hungarian financial market watchdog said in an interview with the business weekly Figyelo published on Thursday.
The majority of the Hungarian foreign-currency loans are retail loans, including home loans or loans taken out by SMEs. These loans …
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