ECB raises concerns over Hungarian central bank's programmes

April 7, 2016 7:32 AM

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BUDAPEST, April 7 The European Central Bank (ECB) warned Hungary's central bank on Thursday that it should ensure that funds granted to its six educational foundations do not violate the prohibition of monetary financing.

In its 2015 annual report, the ECB also said the National Bank of Hungary's purchase of a majority stake in the Budapest Stock Exchange "may be seen as giving rise to monetary financing concerns."

Also read: ECB relaxes rule of bond lending to avoid repo squeeze

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