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EU, IMF meet Hungarian banks

Friday 23 July 2010

Representatives from the European Commission and the International Monetary Fund met, on 22 July in Brussels, with the parent banks of systemically important Hungarian financial institutions (Erste Group Bank, RZB Group, Intesa SanPaolo, KBC Group and Unicredit Group) as well as the largest domestic bank, OTP. The meeting was also attended by representatives of the Hungarian Ministry for the National Economy, the National Bank of Hungary, the Hungarian Financial Supervisory Authority and home country supervisors, the European Bank for Reconstruction and Development, the European Investment Bank, the World Bank Group and the European Central Bank. The purpose of this meeting was to take stock of the macroeconomic situation in Hungary and to inform the parent banks about the outcome of the recent joint EC-IMF review mission, which was not concluded. Participants expressed the expectation that talks on the multilateral economic programs, in particular towards improving the features of the temporary Hungarian financial sector levy, would be resumed shortly.



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