Budapest, October 2 (MTI) – The justice ministry had started preparing draft regulations on setting up a “system of fair banks” and these will regulate the conditions under which banks could offer personal loans, ruling Fidesz group leader Antal Rogan said.
The Fidesz group plans to discuss this draft and the conversion of FX loans to forint-based loans on Nov. 4, he told a press conference on Thursday. He said the law would be modelled on a German system and that Fidesz was committed to plans that no foreign currency loans can remain in the hands of retail borrowers in Hungary, “the forint conversion must be pushed through”.
Final court decisions in FX loan cases are expected to be passed by mid-November, the supreme court Kuria could complete its reviews in the first half of January next year, and accounts can be settled after that, Justice Minister Laszlo Trocsanyi told the same press conference.
Trocsanyi said after talks with Rogan that accounts will be settled in all FX loan cases by November next year.
He said 79 out of some 400 financial institutions affected by the legislation had filed a suit against the state. Fifty-nine of these have been settled with the court ruling in favour of the state, three were concluded with partial rulings in favour of the banks and four cases have been suspended and referred to the constitutional court for review.