November 30, 2017 / 11:21 AM / a year ago

Hungary to launch mortgage note indexes from December -cbank

BUDAPEST, Nov 30 (Reuters) - The Budapest Stock Exchange and the National Bank of Hungary will launch three mortgage note indexes from December to help the development of the domestic mortgage note market, the central bank said on Thursday.

The central bank said an increase in the mortgage funding adequacy ratio for commercial banks to 20 percent from 15 percent as of October 1, 2018 would contribute to a further deepening of the market.

It said local banks have issued mortgage notes worth nearly 400 billion forints ($1.51 billion) since it launched new funding rules in October 2016 to reduce the maturity mismatch between the banking sector’s forint assets and liabilities. ($1 = 264.46 forints) (Reporting by Gergely Szakacs and Sandor Peto)

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