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Hungarian Banking Regulations: A Summary

Capital Requirements

The Banking Act in Hungary requires credit institutions to maintain sufficient own funds (minimum capital) at all times. This ensures they have a buffer to cover risks and meet the minimum capital requirement defined in Regulation (EU) No. 575/2013, which is not less than the subscribed capital required for authorization.

Resolution Planning

While there isn’t an explicit mention of a “resolution plan” similar to those in other jurisdictions, credit institutions are required to have written policies and procedures for managing liquidity risk. This includes:

• Identifying liquidity risks
• Measuring liquidity risk
• Managing and monitoring liquidity over an appropriate period

Personal Liability of Managers/Directors

The liability of members of the board and supervisory board is regulated by the Hungarian Civil Code and the Banking Act. They are personally responsible for any damages caused by breaching rules or managerial duties.

Note: Unfortunately, there wasn’t a specific question provided in the original text to answer directly. If you have any further questions or would like me to elaborate on any of these points, please let me know!