Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Eastern Europe Must Coordinate to Stem Deleveraging, Simor Says

May 17 (Bloomberg) -- Central and eastern European regulators need closer coordination to stem deleveraging by foreign banks and avoid a credit crunch threatening some countries, Hungarian central bank President Andras Simor said.

“European bank deleveraging -- although to different degrees -- is clearly a serious risk for CEE countries,” Simor said in a speech in London today. “A disproportionately high degree of deleveraging in” the region “can have large effects on the region’s credit supply and may hamper the recovery process. Regulatory vigilance is therefore justified and, importantly, has to occur in a coordinated fashion.”

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.