MNB Calls on Banks to Introduce Moratorium on Household Loan Repayments
Péter Cseresnyés 2020.03.18.
Hungary’s central bank (MNB) has called on Hungarian banks to introduce a moratorium on household loan repayments considering the “extraordinary situation” due to the coronavirus crisis, the bank said in a statement on Wednesday.
The MNB justified its decision by saying that the economic effects of the coronavirus will influence households negatively, temporarily affecting retail customers’ ability to borrow and repay loans. According to the central bank, loan payments should stop at least until the end of 2020.