Hungary cbank says banks should try and avoid evictions

March 11, 2016 10:18 AM

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BUDAPEST, March 11 The National Bank of Hungary recommends that banks redouble their efforts to alleviate a large stock of non-performing loans and if possible avoid evictions of delinquent mortgage borrowers to avoid social tensions, the NBH said on Friday.

As of March 1, a moratorium on evictions of non-paying mortgage borrowers ended and banks may now liquidate the assets behind 144,000 contracts, worth a total of 1.3 trillion forints ($4.65 billion), where borrowers fell at least 90 days behind payments, the central bank said.

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