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Hungarian banking system prepared for debt repayment moratorium, says minister

Christian Fernsby |
The Hungarian banking system is prepared for the extraordinary situation and the attached special measures such as the debt repayment moratorium, Finance Minister Mihály Varga said following a meeting with representatives of the Hungarian Banking Association.

Topics: HUNGARIAN    BANK    DEBT   

Mihály Varga said the debt repayment moratorium will take effect automatically, and there is therefore no need for anyone to inform their bank of their intention to avail themselves of this option.

Debtors are required to notify financial institutions if they wish to continue repayment under the original terms and conditions, without disruption, he added.

ill take effect automatically, and there is therefore no need for anyone to inform their bank of their intention to avail themselves of this option.

Debtors are required to notify financial institutions if they wish to continue repayment under the original terms and conditions, without disruption, he added.


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