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Hungary cbank lends $387 mln to deposit insurance fund
March 6, 2015 / 7:52 AM / in 3 years

Hungary cbank lends $387 mln to deposit insurance fund

BUDAPEST, March 6 (Reuters) - The National Bank of Hungary will provide a liquidity loan worth up to 107.1 billion forints ($386.99 million) to the National Deposit Insurance Fund OBA to compensate depositors of four small banks linked to failed borkerage Buda-Cash, it said on Friday.

It said the OBA would refund deposits worth up to 100,000 euros within 20 working days.

Hungary’s central bank seized control of Buda-Cash and four small lenders with links to the brokerage late last month saying the company could not account for about 100 billion forints of client cash. ($1 = 276.75 forints) (Reporting by Gergely Szakacs and Sandor Peto)

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