• Home
• Channel: Finance
• Eurostat Has NBH Foundations In Sights

Eurostat Has NBH Foundations In Sights

• 24 Apr 2018 9:11 AM
• Hungary Matters

Eurostat says the National Bank of Hungary’s (NBH) foundations should be included in the national budget.

The European Union’s statistics office said in a release that it had reservations concerning the quality of data in connection with the foundations as well as how they are classified. “Eurostat considers that these foundations, including their subsidiaries, should be classified inside general government.”

“[F]or the purposes of statistical classification under ESA, the foundations are government controlled non-profit units and nonmarket producers and should ... be classified in the general government sector,” Eurostat acting director Luca Ascoli wrote to the head of Hungary’s Central Statistical Office (KSH).

Assets of the NBH’s Pallas Athene Foundations came to 269.8 billion forints (EUR 871m) at the end of March, the foundations’ assets manager said earlier. The assets included 95.8 billion forints in real estate, 62.3 billion in investment fund units, 56.1 billion in corporate bonds, 30.2 billion in bank deposits and 25.3 billion in government securities.

The foundations have scaled back their holdings of government securities since 2016 after the European Central Bank warned that the portfolio “could be perceived as being potentially in conflict with the monetary financing prohibition”.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Eurostat NBH

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

Inflation in Hungary Predicted to Rise Over Coming Months, A National Bank Director Reveals

• 20 Dec 2024 6:38 AM

Inflation in Hungary will temporarily rise in the coming months, but will remain within the tolerance band throughout most of 2025, Andras Balatoni, a director of the National Bank of Hungary (NBH) said.



Compulsory Vehicle Insurance in Hungary Close to HUF 58,000 on Average

• 10 Dec 2024 6:48 AM

Hungarian car owners paid almost HUF 58,000, on average, for their annual compulsory vehicle insurance premiums in the third quarter, 10pc more than in the same period a year earlier, a report by the National Bank of Hungary (NBH) shows.



Central Bank Base Rate Remains Unchanged in Hungary at 6.50% - Here's Why

• 19 Nov 2024 4:58 PM

The Monetary Council of the National Bank of Hungary (NBH) decided to leave the central bank base rate unchanged at 6.50pc at a monthly policy meeting.



High Savings Rate of Hungarian Households Well Over Average for Region

• 13 Nov 2024 7:18 AM

Hungarian households' high savings rate and net financial assets, well over the average for the region, are a "growth reserve" for the national economy, if they can be channeled to corporate financing, Barnabas Virag, a deputy governor at the National Bank of Hungary (NBH), said at a conference organised by the Budapest Stock Exchange.