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Skutki przewalutowania kredytów denominowanych we franku szwajcarskim na Węgrzech

Alternative title:

The effects of currency conversion in Swiss francs in Hungary


Sieńko-Kowalska, Beata

Subject and Keywords:

denominated in foreign currency loans in Hungary   automatic conversion of foreign currency


Od 2013 pt.: Ekonomia - Wroclaw Economic Review


Subsequent legislative actions were taken in Hungary in 2010–2015 in order to successively eliminate denominated in foreign currency loans from the market and thus gradually contribute to a reduction in the indebtedness of Hungarians resulting from the mortgage loans in Swiss francs (andother currencies) drawn in masses during the recent years. The Hungarian legislators gradually,through prohibiting the banks to employ practices unfavorable for the customers (currency spreads,unilateral increase in interest rates on loans) arrived at the automatic conversion of denominatedforeign currency loans to the domestic currency, i.e. the forint.The mechanism implemented in Hungary, consisting in automatic loan conversion at the current rate, was a compromise, as it encumbered not only the banks, but also the borrowers. The latterwere held responsible for the increase in the exchange rate of the currency (the Swiss franc), but theyreceived compensation in the form of reimbursement of the amounts overpaid due to the unfavorablepractices employed by the banks. Thus, the solution implemented in Hungary was to preserve thesymmetry between the customers and the banks, since the mechanism of automatic conversion atthe current rate as such resulted in the customers have been owning more forints after the conversionthan on the date of entering into the loan agreement with the bank. As a result, the first effects of theconversion were fairly neutralized, however the subject has certainly not been exhausted

Place of publishing:



Wydawnictwo Uniwersytetu Wrocławskiego


Rutkowska-Tomaszewska, Edyta. Red.

Date issued:


Date copyrighted:



ISSN 2084-4093




pol   eng


Acta Universitatis Wratislaviensis, ISSN 0239-6661 ; no 3832. Ekonomia, ISSN 2084-4093 ; 24/1, s. 137-149

Is version of:

Czasopisma Naukowe w Sieci (CNS)

Autor opisu:

WR U/PAdjm