Hungarian Borrowers Repay $783 Million in Foreign-Currency Loans

Hungarian borrowers repaid 174.8 billion forint ($783 million) in foreign-currency loans by Oct. 30 under a government program allowing the termination of mortgages at below-market rates, financial regulator PSZAF said.

The 29,427 loans repaid amounted to 130.6 billion forint at the discounted rates of 180 forint per Swiss franc, 250 per euro and 200 forint per 100 yen, PSZAF said on its website today.

Hungarian lawmakers approved legislation on Sept. 19 that allows early repayment of foreign-currency mortgages, forcing lenders to take losses.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.