trending Market Intelligence /marketintelligence/en/news-insights/trending/OLza9Mayxgk0zQdqlNLKrg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: Hungary's constitutional court deems central bank law change unconstitutional

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Report: Hungary's constitutional court deems central bank law change unconstitutional

Hungary's constitutional court rejected an amendment to alaw that would have limited public access to financial data of companies ownedby the country's central bank and its foundations, Reuters reported March 31.

"The [Magyar Nemzeti Bank] serves a public purpose and managesexclusively public money, therefore to ensure transparency and the purity ofpublic life, it must be accountable to the public," said the court, whichreportedly also prohibited the amendment from being applied proactively.

Apart from various foundations, the central bank partly orwholly owns various businesses including the Budapest Stock Exchange, in whichit acquired a majority stake in November 2015, the newswire noted.

The country's ruling Fidesz party and György Matolcsy,governor of the country's central bank, were in favor of the amended law,Reuters noted.