Hungary cbank to further ease terms of cheap loans scheme

Credit: REUTERS/Bernadett Szabo

The National Bank of Hungary will further ease the terms of its 1.5 trillion forint ($4.82 billion) cheap loans scheme to help businesses access cheap funding amid the coronavirus pandemic, a deputy governor said on Wednesday.

BUDAPEST, July 15 (Reuters) - The National Bank of Hungary will further ease the terms of its 1.5 trillion forint ($4.82 billion) cheap loans scheme to help businesses access cheap funding amid the coronavirus pandemic, a deputy governor said on Wednesday.

NBH Deputy Governor Csaba Kandracs told national news agency MTI that the bank would cut capital requirements attached to the lending under the programme by as much as 2 percent and introduce regulatory support for participation in a bond buying scheme launched last year.

Together the moves could free up tens of billions of forints that could in turn be lent to businesses, Kandracs said.

($1 = 311.2700 forints)

(Reporting by Marton Dunai)

((marton.dunai@tr.com; +36-30-952-7878 (Cell/Signal); https://reut.rs/2OXGXbW ;))

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