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Country Finance Hungary Product Image

Country Finance Hungary

  • Published: March 2012
  • 88 Pages
  • The Economist Intelligence Unit

In an unprecedented step, the European Commission proposed on February 22nd 2012 to suspend payments of EUR495.18m, or 0.5% of GDP, in EU development funds to Hungary in 2013 as the country failed to cut its deficit to below 3% of GDP by end-2011. The possible suspension can be lifted if the government approves sufficient measures to reduce the budget deficit.

The government, led by the centre-right Fidesz party, announced on November 17th 2011 it would seek a new loan of an undisclosed sum from the IMF and the EU. But the two organisations suspended preliminary talks with Hungary in December to protest the new government-legislated framework for the central bank.

The European Commission opened an infringement procedure against Hungary on January 17th 2012 over concerns that the country's new regulations may affect the independence of the central bank. The government enacted the criticised law on the MNB as of January 1st 2012.

Country Finance Hungary

Regulatory/market assessment

Regulatory/market watch

Hungary at a glance: Political structure

Hungary at a glance: Sovereign debt ratings*

Fundamental indicators

Financial regulation in Hungary

Banks and other financial institutions: Overview

Banks and other financial institutions: Bank regulators

Banks and other financial institutions: Regulatory watchlist

Banks and other financial institutions: Domestic banks

Banks and other financial institutions: Foreign banks

Banks and other financial institutions: Investment banks and brokerages

Banks and other financial institutions: Development and postal banks

Banks and other financial institutions: Offshore banks

Banks and other financial institutions: Insurance companies

Banks and other financial institutions: Pension funds

Banks and other financial institutions: Mutual funds and asset-management f

Banks and other financial institutions: Venture-capital and private-equity

Banks and other financial institutions: Factoring firms

Banks and other financial institutions: Financial leasing companies

Banks and other financial institutions: Other institutions

Corporate case study: Foreign banks streamline operations as surtax, mortga

Monetary and currency policies/regulations : Overview

Monetary and currency policies/regulations : Base lending rates

Monetary and currency policies/regulations : Monetary policy

Monetary and currency policies/regulations : Currency

Monetary and currency policies/regulations : Loan inflows and repayment

Monetary and currency policies/regulations : Repatriation and remittance of

Monetary and currency policies/regulations : Restrictions on trade-related

Short-term instruments/regulations: Overview

Short-term instruments/regulations: Cash management

Short-term instruments/regulations: Payment-clearing systems

Short-term instruments/regulations: Receivables management

Short-term instruments/regulations: Payables management

Short-term instruments/regulations: Currency spot market

Short-term instruments/regulations: Futures and forward contracts

Short-term instruments/regulations: Options

Short-term instruments/regulations: Swaps

Short-term instruments/regulations: Exotics

Short-term instruments/regulations: Bank loans

Short-term instruments/regulations: Time deposits

Short-term instruments/regulations: Certificates of deposit

Short-term instruments/regulations: Treasury bills

Short-term instruments/regulations: Repurchase agreements

Short-term instruments/regulations: Commercial paper

Short-term instruments/regulations: Overdrafts

Short-term instruments/regulations: Banker's acceptances

Short-term instruments/regulations: Supplier credit

Short-term instruments/regulations: Intercompany borrowing

Short-term instruments/regulations: Discounting of trade bills

Medium- and long-term instruments/regulations: Overview

Medium- and long-term instruments/regulations: Securities markets

Medium- and long-term instruments/regulations: Portfolio investment

Medium- and long-term instruments/regulations: Trading, clearing and settle

Medium- and long-term instruments/regulations: Corporate governance

Medium- and long-term instruments/regulations: Listing procedures

Medium- and long-term instruments/regulations: Recent initial public offeri

Medium- and long-term instruments/regulations: Underwritten offerings

Medium- and long-term instruments/regulations: Rights offerings

Medium- and long-term instruments/regulations: Private placements

Medium- and long-term instruments/regulations: GDRs/ADRs

Medium- and long-term instruments/regulations: Alternative markets

Medium- and long-term instruments/regulations: Bank loans

Medium- and long-term instruments/regulations: Financial leasing

Medium- and long-term instruments/regulations: Corporate bond issues

Medium- and long-term instruments/regulations: Private placement of notes

Medium- and long-term instruments/regulations: Structured finance

Medium- and long-term instruments/regulations: Infrastructure financing

Medium- and long-term instruments/regulations: Trade financing and insuranc

Key contacts

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