Hungarian vehicle to buy HUF 100 bln worth of bad bank assets this year -paper

February 15, 2016 7:44 AM

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BUDAPEST Feb 15 The vehicle set up by the National Bank of Hungary to buy up bad loans from banks plans to buy 100 billion forints ($362.32 million) worth of distressed assets in 2016, its Chief Executive Officer Csaba Kandracs told daily Magyar Idok on Monday.

The vehicle, called MARK, will start purchasing assets after publishing the terms and conditions of the scheme later this month, the central bank said last week.

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