March 16, 2020 / 1:21 PM / 13 days ago

Hungary central bank takes emergency steps to help businesses

BUDAPEST, March 16 (Reuters) - Hungary’s central bank announced a series of emergency steps on Monday to help the business sector, calling on the country’s banks to apply a loan repayment moratorium for companies hit by the economic fallout from the coronavirus.

It also imposed a moratorium on repayments on loans extended under the central bank’s Funding for Growth Scheme and expanded the range of NBH collaterals with company loans.

“As a result, the total value of collateral that can be used ... will expand by more than 2.5 trillion forints ($8.10 billion),” the NBH said in a statement on its website. ($1 = 308.6500 forints) (Reporting by Gergely Szakacs and Krisztina Than)

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