The Central Bank of Hungary (CBH) has become the dominant majority shareholder in Giro, an interbank clearing company with a monopoly on settling credit transfers and direct debits, and is aiming to buy out the remaining minor shareholders over the coming two months.
The CBH yesterday said its offer had been accepted by most of Giro's 21 other shareholders, including the country's banks, allowing the central bank to add 78.12% of the company's shares to the 8.09% it already owned, giving the CBH
- Auditors find ‘flaws’ in ECB’s crisis management framework
- Economists need to better understand macrofinancial links – BIS paper
- Home truths on Europe’s NPLs
- Central banks lack ‘firepower’ to combat financial crises, says report
- Ukrainian bank owners carried out ‘co-ordinated fraud’, forensic audit says