Central Bank of Hungary digs into reserves to supply banks with foreign currency


The Central Bank of Hungary (CBH) said this week it will use reserves to help banks meet liabilities in foreign currency that it believes pose a risk to the country's exchange rate.

The programme, which will be launched in October, is intended to cover a looming currency mismatch on banks' balance sheets that will result from a government plan to convert forex-denominated consumer loans into Hungarian forint.

Loans denominated in euros and Swiss francs were popular in Hungary ahead of the

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