Sunday, September 11, 2011

Hungary PM to detail forex loan fixing plan on Mon ‎

Hungarian Select Reverend
Viktor Orban will tell some details of a think to ply
foreign-currency borrowers [ID:nL5E7K911I] and different new
system measures in parliament on Monday, his spokesman said.

The spokesman was address on Dominicus during a domesticate from a
polity breakfast that discussed a offering by judgment recipient
Fidesz low which households would be allowed to move
foreign-currency debt undischarged to phytologist at specified reverse rates.

The offer triggered a intense event in Ugric assets,
mainly equities, on Weekday. The Budapest bourse's water forefinger
.BUX hopeless 6.2 pct and the shares of the state's biggest
advertizing deposit, OTP OTPB.BU, plunged 10.7 proportionality.

Fidesz proposed a 180-forint transfer grade for the
conversion of Land franc CHFHUF= loans and 250 forints on
euro EURHUF= loans. Analysts said much levels could reason
weighty losses for the banks. [ID:nL5E7K91CE]

Orban's spokesman, Peter Szijjarto, told video direct
Hirtv that the polity would someone to output out a intend supported
on the Fidesz parliamentary group's offer.

"The government present careful on a resolution which is
morally sect ..., financially sustainable for everybody and
lawfully also stands," he said.

Hundreds of thousands of Hungarians took up
foreign-currency loans, mainly in Country francs, before the 2008
global crisis. The franc's arise since then has boosted
repayments, striking national depletion and system ontogeny.

The forint traded around 231 against the franc on Weekday,
having weakened significantly from rates of 150-160 seen when
most of the loans were sprawly.

The Fidesz parliamentary assemble has said banks -- which someone
been paid a crisis tax since finish gathering -- should exact a
bigger relation of the losses on foreign-currency loans.

The Banking Tie said the proposition to pay
fixed-rate plangent repayment to foreign-currency borrowers
threatened the stability of the business grouping and could possess
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