The banks have a moral responsibility, he asserted, as they did not provide full information on potential risks to clients from these “faulty products”.

In the event that banks do not produce an acceptable proposal, then Parliament will pass a government proposal before the end of the year, Rogán added.

He suggested that such mortgages would be gradually converted into forint loans.

Rogán also stressed that any solution should not leave those who borrowed in forints worse off than those who borrowed in foreign currencies.

Source: Hungary Around the Clock

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