July 4, 2014 / 10:26 AM / 3 years ago

Hungary loans measure could cost banks up to HUF 600-900 bln -cbank

BUDAPEST, July 4 (Reuters) - Hungary’s central bank said compensating borrowers for unfair loan practices could cost the country’s financial sector 600 to 900 billion forints ($2.63-$3.94 billion), based on a bill which parliament is expected to pass later on Friday.

However, this will not pose a risk to the stability of the bank sector, the central bank’s press office said in a reply to Reuters questions.

“The National Bank of Hungary believes this amount will not cause a problem in terms of the stability of the banking system, none of the banks will need significant additional capital injection, but it could reshuffle the market position of some banks in the longer term,” the bank said. ($1 = 228.2300 Hungarian Forints) (Reporting by Krisztina Than; Editing by Alison Williams)

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