Hungary's banks could soon convert fx car loans

August 10, 2015 6:39 AM

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BUDAPEST Aug 10 Hungary's banks are close to an agreement with the government on converting the remaining stock of foreign currency denominated vehicle purchase and personal loans to forints, the county's Bank Association told the news agency MTI on Monday.

Bank Association Chairman Levente Kovacs said banks and the government have both aimed to convert the loans but needed to see eye to eye on timing and exchange rate. Hungary converted FX-denominated mortgages earlier this year based on a 2014 agreement between the government and banks.

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