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Government Extends Rate Cap on Large Bank Deposits Until Dec

HUNGARY
  • Hungary has extended a cap on large commercial bank deposits until December, the Economic Development Ministry said in a statement as per Bloomberg.
  • The rule caps interest rate on deposits fixed for up to 1 year at average yield of 3-month treasury auction.
  • It applies to retail deposits in excess of HUF20m as well as deposits of institutional investors including investment funds. The cap was set to expire on September 30.

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