The Kúria made a legal conformity decision last Monday, ruling that loans denominated in foreign currency were not against the law and did not constitute usury. Orbán said he agreed with those who urge the Kúria to rule without delay about the legality of banks’ use of exchange rate margins and their unilateral decisions changing the interest rates.

“We are expecting a position about the legality of these practices and as soon as this is available, there will be a clear situation from the point of law and then we can take the necessary steps,” Orbán said. He declined to reveal, however, what steps are planned and added that it is too early to discuss this issue.

“Until then, I advise all Hungarian citizens to enter the exchange rate cap scheme ... regardless of what legal disputes are still under way,” he added.

Source www.hungarymatters.hu

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