The Ministry of National Economy spoke about the interest stoppage
The Ministry of National Economy (NGM) spoke about the interest stop. The complaint submitted by banks has been stated that it would jeopardize the situation of domestic families and believe that banks only want to achieve more profits.
Blikk also reported that Four banks turned to the Constitutional Court because of the Interest Stopthat has been operating since 2022. According to the Regulation, credit institutions may take into account the reference rate of up to 27 October 2021 for the current interest rate of a variable interest rate, up to one year. Three years ago, this decision was made in view of the epidemic, but this has been extended several times since.
According to the latest postponement, the interest rate would last until the end of June, but banks fear that the government will renew it again, so they have turned to the Constitutional Court to establish the unlawfulness of the regulation.
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Banks got tired of the never -ending interest stop, attacked at the Constitutional Court
Four major banks did not wait for the government to decide on the fate of the interest rate stop of home loans by the end of June. The measure, which was temporarily introduced in early 2022, has since been extended again and again. Banks are probably aware that this is planned by the government again, so the Constitutional Court has turned to determine the unlawfulness of the law. In addition to the list of banks asking for remedies, the missing is also telling.
The Ministry of National Economy has spoken
NGM responded to banks’ steps in a statement. As they wrote, without government intervention, tens of thousands of families could have lost their homes due to increased installments, as credit rates could have increased drastically up to 25 percent, and installments would have been more than 80 percent higher.
According to their announcement, the residential interest rate current is currently protecting over 286,000 mortgage contracts. During the period from the introduction of the Interest Stop to June 2025, nearly HUF 330 billion was saved.
It has also been explained that the institution of the Interest Stop also protects the stability of the domestic banking system because they would have suffered significant losses on non -paying, fallen retail loans. Families’ outgoing principal reaches HUF 1,210 billion, while the Interest Stop protects nearly one fifth of the total population mortgage. This stock would be jeopardized without the interest rate, which would pose a significant risk for the banking sector as a whole. They added that the interest stop introduced in 2022 did not cause any injury in the profit of the Hungarian banking system. The sector was stable, along with the interest stop and the bank tax, the sector’s profit was HUF 339 billion in 2022, HUF 1,457 billion in 2023 and HUF 1,242 billion in 2024.
Ukraine was also mixed in
At the end of its announcement, the NGM noted that the situation in the country is currently serious, as there is a war next door. It has been stated that financial resources should not be spent on banks’ profits and Ukraine.
“According to the Ministry of National Economy, the application to the Constitutional Court will jeopardize the situation of Hungarian families and the safety of housing. In addition, in a serious situation where war is in the neighborhood of our country, Ukraine’s accelerated recording forced by Brussels and the reallocation of financial resources threatens and threatens families. There is no place for profit hunger, and the Hungarian government will continue to fight with all the means to protect and further support families, home creation. The resources should not be used to do so to Ukraine or to further fatten the profits of the banks, but to Hungarian families!« They said.
