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Bank Resolution and Management in Hungary

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The Hungarian government has implemented measures to ensure stability in case of a bank failure. This response exceeds the 2048 limit, so we will focus on the main points.

Bank Resolution

• The Hungarian government may apply a state financial stabilization instrument in case of a bank failure.
• This can take the form of capital increase or temporary nationalization of shareholdings.
• In the event of temporary nationalization, the bank’s operations must continue on a commercial basis, and the role of the state as owner of equity elements is transferred to market players through public auction.

Bank Management and Directors’ Liability

Supervisory Commissioner

• If a bank failure is caused by reasons set out in the Banking Act, the MNB may pass a resolution appointing a supervisory commissioner.
• During this period, board members cannot perform their duties or exercise signatory rights.
• The liability of board members and directors is regulated by various acts, including the Hungarian Civil Code and the Banking Act.

Planning Exercises

Liquidity Risk Management

• Credit institutions must have written policies and procedures for identifying, measuring, managing, and monitoring liquidity risk over an appropriate period.
• They must distinguish between pledged and unencumbered assets that are available at all times, particularly during emergency situations.

Capital Requirements

• Banks must meet minimum capital requirements defined in article 92 of Regulation (EU) No. 575/2013 and extra capital requirements prescribed by the supervisory review.
• Credit institutions must place 10% of their annual after-tax profits into a general reserve to offset losses incurred during their activities.

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