April 12, 2019 / 7:55 AM / 2 months ago

Hungary cbank wants to help double or triple corporate bond market

BUDAPEST, April 12 (Reuters) - The National Bank of Hungary (NBH) wants to help expand the country’s corporate bond market two- or threefold to help diversify company funding and better prepare for a possible crisis, NBH deputy governor Marton Nagy said on Friday.

The current level of about 1.6 percent of GDP is below central European peers, as Czech and Polish corporate bond markets are at about 6-7 percent of GDP in those countries, Nagy said.

The central bank wants to see more competition with bank funding, which currently covers about 99 percent of corporate funding needs, and it could also better step in to the corporate bond market to help companies in the event of a crisis, he said. (Reporting by Marton Dunai)

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