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Hungary banks would bear most burden from fx loan scheme -Bank Assoc
August 27, 2013 / 10:44 AM / in 4 years

Hungary banks would bear most burden from fx loan scheme -Bank Assoc

BUDAPEST, Aug 27 (Reuters) - Hungary’s banks would bear most of the costs of a new relief scheme for foreign currency mortgage holders based on the proposal of the Bank Association, the chairman of the association said on Tuesday after talks with the government.

Mihaly Patai, who is also chief executive of Unicredit’s Hungarian unit, told reporters that banks would bear a burden of “several hundreds billions of forints over a period of several years” based on the Association’s proposal.

“The main aspect of our proposal was to observe the aspects that the government had requested and (that) monthly repayments should fall drastically, it’s a very important part of our proposal,” Patai said.

“In our proposal, the banking system would bear a very big part of the burden ... and the state budget a smaller part, and clients would also bear a small part (of the costs).” (Reporting by Sandor Peto)

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