The Ministry of Justice has been preparing draft regulations on setting up a “system of fair banks”, which determine the conditions of personal bank loans that could be offered by banks, Fidesz group leader Antal Rogán said.

The Fidesz group plans to discuss these draft regulations and the exchange of foreign currency loans to forint-based loans on 4 November, Antal Rogán noted at a press conference in the Ministry of Justice on 2 October. “The Fidesz group was committed to leave no foreign currency loans in the hands of retail borrowers in Hungary and the forint conversion must be enforced”, he added.

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In relation to foreign currency loans, the end of procedures at the court of second instance are expected by the middle of November whereas the Curia could complete its reviews during the first half of January at least, Minister of Justice László Trócsányi said at the press conference.

After discussion with Antal Rogán, Minister Trócsányi stated that accounts would be settled in all foreign currency loan cases by November of the following year. He declared that seventy-nine out of some four-hundred financial institutions brought lawsuits at court. The State gained his point in fifty-nine of these proceedings, the court concluded three cases by the partial success of the banks and four cases were suspended and referred to the Constitutional Court for review.

(MTI / Ministry of Justice)