Hungarian Regulator Reviewing Banks Setting Interbank Bubor Rate

Hungary’s financial regulator PSZAF is conducting a review of banks which help set the Budapest Interbank Offered Rate, or Bubor, PSZAF spokesman Istvan Binder said today.

“The regulator has no preconceptions when starting an investigation” and “the mere fact there is an investigation at a company doesn’t mean it has any sort of problem,” Binder said by phone from Budapest.

He declined to say which banks are being investigated and didn’t provide an more details.

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

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