Parliament Could Vote Monday On Extending Evictions Moratorium

Budapest, May 9 (MTI) – A bill by governing Fidesz to extend the moratorium on evictions until the problem of foreign currency-denominated loans is resolved will be the first one approved by the new Parliament, Fidesz parliamentary group leader Antal Rogan said on Friday.

The bill could be approved already on Monday, in a deviation from house rules, Rogan said. He added that solving the problems of FX borrowers would be in banks’ interest, too.

He again urged the Kuria, Hungary’s supreme court, to take a decision soon on open questions related to unilateral changes to FX contracts and exchange rate margins.

“If the Kuria takes a stand on the matter by the end of May or even […] in June, I can promise in the name of the Fidesz parliamentary group that at that moment — taking into consideration the Kuria’s decision — a law on putting the situation of FX borrowers in order will be drafted and submitted to Parliament.”

Cheap, Swiss franc-denominated loans were once the most popular retail lending product in Hungary, before the weaker forint caused the size of repayments to swell, bringing many borrowers close to default. Hungary’s government has taken a number of measures to assist FX borrowers and has said it plans to phase out FX loans.

Photo: www.168ora.hu

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