Fidesz MPs To Clarify Prescription Period For Borrowers Relief

Budapest, June 30 (MTI) – The parliamentary group of governing Fidesz is submitting amendments to a bill on relief for borrowers with foreign currency-denominated loans that clarifies rules on the statute of limitations for the assistance, the group’s leader, Antal Rogan, told public television today.

Rogan told M1’s Ma Reggel programme that Fidesz MPs would accept only the strictest form for the statute of limitations under the civil code, meaning that there would be no period of prescription for existing loan contracts, regardless of when the loan was signed.

Hungary’s government submitted a bill to Parliament on Friday that would void the practices of using different exchange rates for disbursement and repayment of foreign currency-denominated loans and of making unilateral changes to all retail loans unless lenders successfully defend such changes in court. The rules for refunding clients will be laid down in separate legislation, according to the bill which incorporates a legal uniformity decision on FX loans by Hungary’s supreme court, the Kuria, taken earlier June.

Rogan said a statute of limitation on the legislation would apply only to those loan contracts that have clearly been closed for at least five years.

Photo: MTI – Zoltan Mathe

Source: http://mtva.hu/hu/hungary-matters