The rules of compensation for debt recovery costs have been changed again

by | May 11, 2016 | Financial Services

On 24 March 2016 new rules entered into force on the compensation for debt recovery costs (“behajtási költségátalány” in Hungarian). Until this date, the compensation for debt recovery costs was regulated by the Hungarian Civil Code, now the rules are included in a separate act.
The most important change is that it is no longer compulsory to charge compensation for debt recovery costs (in forints in the amount equivalent to EUR 40), it is just an option.

Restoring confidence in the financial system

by | May 11, 2016 | Financial Services

On 7 April 2016 the Committee on Economic and Monetary Affairs voted on new rules about indices used as benchmarks in financial instruments and financial contracts. Benchmarks are indices such as interest rates on interbank loans in London (LIBOR) or in the euro zone (EURIBOR).
They are often used as references in financial and commercial contracts together with other benchmarks.