Central Bank of Hungary (MNB)
Staff cuts made at majority of central banks since 2013
But staff numbers grow at several banks, including ECB and Bank of England
Hungarian central bank increases gold reserve tenfold
Governor Matolcsy says prime minister asked MNB to reconsider gold policy
Hungary prepares to normalise its array of policy instruments
Central bank reshuffles its wide range of unconventional instruments and launches lending facility
Hungarian central bank sets out instant payments infrastructure plan
Company wholly owned by MNB to have system operational ‘by mid-2019’
Hungarian deputy governor loses responsibility for macro-prudential policy
Nagy replaced as head of Budapest stock exchange two days earlier
Hungarian central bank delays introduction of capital buffers
Move taken “to support lending” as banks sell off portfolios of “problem loans”
People: BoE appoints Brexit co-ordinator; Lagarde chooses Selassie to head Africa department
Phil Evans put in charge of work on UK’s exit from European Union at the Bank of England; Christine Lagarde appoints new Africa chief; and more
Book notes: Priests of prosperity: how central bankers transformed the postcommunist world
Juliet Johnson has produced an interesting account of how central banks in former communist regimes were developed at a time when they had little or no experience of modern financial systems
People: Hungarian board member takes government post; new RBI executive director
Member of Central Bank of Hungary’s monetary council resigns to take government role; RBI chooses new executive director; Icelandic head of financial stability moves to Yale; and more
Sale by Hungarian central bank challenged on transparency grounds
Hungary’s central bank announces it has sold a nationalised bank to three groups of private investors; defends process as ‘transparent’, but local campaigners question move
Prospective eurozone members fail to meet convergence criteria, ECB says
Seven prospective member countries show greater convergence in their economic indicators but fail to meet requirements for their legal frameworks, ECB report says
Hungarian governor launches lawsuit against politician
Hungary's governor launches defamation lawsuit against Socialist law-maker over alleged accusations of misuse of central bank funds by foundations
Hungarian central bank plans offices in New York, Buenos Aires and Beirut
Hungarian central bank formally opens Paris office; bank also runs Hamburg and Rome offices and plans to open more in New York, Buenos Aires and Beirut
Brexit and Hungary’s challenge to European governance
The European Central Bank and Europe's political leaders must meet the challenge as another front opens for European monetary stability
Secrecy over MNB funds sparks constitutional dispute
Unanswered questions over the use of Hungarian central bank funds have led to a series of legal and constitutional battles
Senior IMF figures support nominal negative rates
Negative nominal interest rates can help deliver additional monetary stimulus, senior figures at the IMF "tentatively" conclude
ECB voices concerns over Hungarian National Bank
ECB expresses concern over recent actions by Hungary’s central bank, including purchase of art, land and Budapest stock exchange; says foundation money must not be used for state financing
Hungarian constitutional court strikes down central bank law
Hungary’s two highest courts rule that a law limiting the disclosure of information on central bank assets is unlawful and unconstitutional
President refuses to sign Hungary central bank law
Hungary’s president has referred a law on the governance of the country’s central bank to the constitutional court; critics allege law would greatly reduce scrutiny of central bank’s funds
Hungary central bank action ‘distorting’ swaps curve
The Central Bank of Hungary has offered up 1 trillion forint notional of cheap interest rate swaps, driving down bids for receiver swaps and government bond yields, say dealers
Hungarian ‘bad bank’ gets Brussels go-ahead
European Commission authorises Hungary’s ‘bad bank’ to begin purchasing distressed real estate assets; Hungarian government and EBRD to buy up part of Erste Group operations
Hungarian central bank eases by scrapping deposit facility
The central bank announces the closure of its two-week deposit facility in April, in a move it hopes will lead banks to buy government bonds and lower long-term yields
Hungarian central bank buys controlling stake in Budapest stock exchange
Hungary’s central bank buys 68.8% share in country’s stock exchange, saying the move was necessary to ensure adequate flows of capital to domestic businesses
CLS starts settling Hungarian forint payments
After two years of preparation and testing, the forint joins the CLS universe