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Simor Rejects Report Against Hungary MNB Data-Handling

Hungarian central bank president Andras Simor rejects Audit Office report findings that the Magyar Nemzeti Bank broke the law by supplying breakdown of commercial-bank data to IMF as part of 2008 bailout request. Simor speaks at parliamentary committee hearing today. * MNB sending commercial-bank data to IMF was legal and was aimed at making sure that bailout funds don’t leave country via foreign-owned banks, Simor says * Simor says MNB at the time failed to get written permission from commercial banks for sharing data with IMF though MNB last year received these and commercial banks had no complaints

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