Top Hungary court to define scope of government FX steps-minister

MBH Jelzalogbank Nyrt

25/11/2013 13:00

BUDAPEST, Nov 25 (Reuters) - A broad ruling by Hungary's top court, the Kuria, on various aspects of foreign currency loans will define the framework for the government's planned relief measures for forex borrowers, Justice Ministry State Secretary Bence Retvari said on Monday. "If the Kuria publishes its legal assessment on these issues within the foreseeable future, and we can expect this in weeks, then it will be clear what areas of foreign currency lending the government will have to act in," Retvari told parliament. "This ruling by the Kuria will define the framework in which the government will step immediately and present a bill to parliament to solve the foreign currency lending problem," he said. Retvari cited the possibility of unilateral contract modifications, interest rate increases and the interest rate spread applied to the loans as main areas of concern. (Reporting by Gergely Szakacs and Krisztina Than; Editing by Toby Chopra) ((gergely.szakacs@thomsonreuters.com)(+36 1 327 4748)(Reuters Messaging: gergely.szakacs.thomsonreuters.com@reuters.net)) Keywords: HUNGARY FXLOANS/