The Hungarian Parliament on Tuesday approved legislation that lifts most restrictions for participation in an exchange rate cap scheme for borrowers with foreign currency-denominated loans.

Hungarian hospitals are facing problems paying for drugs and medical devices. Many suppliers have claims worth millions of euros and are having difficulty enforcing them against either the hospitals or the Hungarian government.

The Hungarian Parliament has adopted an amendment to the Hungarian Banking Act (entering into force on 7 July 2015) that provides for the regulation of loan portfolio transfers.

The Hungarian National Bank would like to incentivize the country's banks to clean their portfolios, since the banks still hold over HUF 700 billion (approx. EUR 2.25 billion) of non-performing project loans.

The Hungarian banking transaction tax drives market players and private individuals to use cash rather than electronic payment methods.

The revised payment services directive ("PSD2") has already been implemented in Hungary, most of the provisions will be effective on 13 January 2018.

The competence to issue "payment orders" was shifted from the Hungarian courts to the public notaries approximately one year ago.

On 9 February 2015, Erste Bank Hungary entered into an agreement with the Hungarian Government and the European Bank for Reconstruction and Development.

As part of a comprehensive EU strategy to tackle non-performing loans, the European Parliament and the Council adopted a directive on credit servicers and credit purchasers...

In an era where convenience is king, consumers worldwide are embracing the ease of online services. A transformative trend known as open banking is making waves in the realm of finance.

After the broker scandals of 2015, the government introduced new protective measures this year to restore Hungarian investors' trust in capital markets instruments and investment service providers.

The Hungarian National Bank announced that as of autumn 2014, Hungary wishes to follow the approach taken by many other countries by creating a "bad bank".

Finally, a guiding decision which is favourable for commercial banks has been passed by the Supreme Court in Hungary ("Curia").

The Hungarian Ministry of Justice acknowledged the recent criticism aimed at the difficulties regarding the enforcement of monetary claims in the country and plans to amend the relevant laws to make creditors' lives easier.

The payment in euros is gaining an increasingly important role in Hungary, especially in the payment of corporate tax, which since August 2022 can be paid not only...

Factoring is an increasingly popular product of banks that appeals to corporate clients of whatever size as it provides liquidity to the clients and stable cash flow.

On 13 June 2016 the Hungarian Parliament adopted an amendment to the Civil Code which entered into force two years ago.

In recent years, the European Union has paid special attention to the management of non-performing loans (NPLs), as these loans significantly impact the economic and financial stability of member states.

In recent years, bank customers in Hungary have initiated numerous litigations claiming that their loan agreements are illegal, invalid, or null and void for a variety of reasons.

The fact that the new Hungarian Civil Code at last recognized the concept of transfer of contractual position was a welcome development.