Hungary tightens bank FX funding rules
FX loans continue to haunt the country's economy
This week, the National Bank of Hungary (NBH) said it has tightened foreign currency funding rules in a bid to decrease the country's foreign reserve requirements and reduce risk in the banking system.
The measures aim to smooth out maturity mismatches between long-term, foreign-currency loans and the short-term funding used by banks to finance them. The majority of Hungarian household loans are tied to the Swiss franc and euro, and have long-term maturities.
The rules state that banks will have
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