Bloomberg News

Hungary May Create State Bank to Cut FX Loan Stock, Heti Reports

October 26, 2011

Oct. 26 (Bloomberg) -- Hungary may create a state-owned bank and recapitalize existing state lenders as part of a drive to replace foreign-currency loans with forint ones, Heti Valasz reported, citing an interview with Economy Minister Gyorgy Matolcsy.

The government may also subsidize loans of small- and medium-sized companies to allow them to convert foreign-currency loans into forint-denominated ones, Matolcsy told the weekly, according to a summary of the interview posted on Heti Valasz’s website ahead of its publication tomorrow.

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