its decision H-JÉ-I-86/2019 the Central Bank of Hungary (CNB) withdrew the operational licence of NHB Növekedési és Hitel Bank Zrt. (hereinafter referred to as: NHB Bank, registered office: 1118 Budapest, Kelenhegyi út 39.) and ordered the credit institution to be wound up. As a consequence of the decision, OBA begins paying compensation to the depositors pursuant to the provisions of Act CCXXXVII. of 2013 on Credit Institutions and Financial Enterprises (Credit Institutions Act) and completes the process within fifteen working days. Compensation amount Pursuant to the Credit Institutions Act OBA pay out registered deposit and interest claims up to HUF 31,445,000, equivalent to no more than EUR 100,000 per person. The conversion… Read More
Continue ReadingNHB Announcement
In its decision H-JÉ-I-86/2019 the Central Bank of Hungary (CNB) withdrew the operational licence of NHB Növekedési és Hitel Bank Zrt. (hereinafter referred to as: NHB Bank, registered office: 1118 Budapest, Kelenhegyi út 39.) and ordered the credit institution to be wound up. As a consequence of the decision, OBA begins paying compensation to the depositors pursuant to the provisions of Act CCXXXVII. of 2013 on Credit Institutions and Financial Enterprises (Credit Institutions Act) and completes the process within fifteen working days. Compensation amount Pursuant to the Credit Institutions Act OBA pay out registered deposit and interest claims up to HUF 31,445,000, equivalent to no more than EUR 100,000 per person. The… Read More
Continue ReadingThe current interest rate of the OBA 2022/A bond (March 3. – June 2. 2019.)
The National Deposit Insurance Fund of Hungary hereby informs the bondholders that the floating interest rate of the OBA 2022/A bond for the period commencing on March 3, 2019 and ending on June 2, 2019 is 1.40% per annum.
Continue ReadingThe current interest rate of the OBA 2022/A bond (December 3. 2018 – March 2. 2019.)
The National Deposit Insurance Fund of Hungary hereby informs the bondholders that the floating interest rate of the OBA 2022/A bond for the period commencing on December 3, 2018 and ending on March 2, 2019 is 1.38% per annum.
Continue ReadingA celection of NDIF experiences in the area of compensation
Compensation by deposit insurers is a procedure comprising a large number of actors and elements, extremely concentrated in time and also very complex in nature, thus its elements are worth examining one by one. Among these elements this article explain its impacts on the market of government securities (in relation to the financial capacity to provide compensation) as well as the context of communication especially the spread of (fake) news and its prevention and customer reactions to the closure of a bank. #oba #oba25 #depositinsurance #fakenews #financialstability #gossips
Continue ReadingDeposit insurance and financial stability
Social benefit of the deposit insurance becomes visible especially in turbulent time when it prevent bank runs or compensate depositors. The co-authored article by Katalin Csaba Kallóné and Viktoria Katona that was recently published at Economy&Finance scientific periodic on the occasion of the 25th anniversary of OBA explains all this.
Continue ReadingAssessment of risks in the banking system by stress testing at OBA
In order to be able to react in a timely manner to the crisis of a bank, the Hungarian deposit insurance scheme (OBA) monitors the shock-resistant ability of credit institutions. From a financial stability viewpoint it is important that deposit insurance schemes carry on its duties efficiently. To comply with this OBA incorporates the results of the central bank’s credit risk and bank liquidity stress tests in its risk-based premium calculation model as required by the EBA. Article Authors’ photos:
Continue ReadingÚj KBB előállítására vonatkozó útmutató – tagintézetek számára
Az OBA Igazgatótanácsa elfogadta az új konszolidált betétadat (KBB) előállítására vonatkozó, „Konszolidált betétadat rekordszerkezetének leírása és kitöltési útmutatója” elnevezésű dokumentumot, melyet 2019. augusztus 1-jével kell alkalmazniuk a tagintézeteknek a KBB adatállomány előállítása során. További információkhttps://www.oba.hu/index.php/tagintezeteknek/konszolidalt-biztositott-betet/
Continue ReadingAlternative mandates of deposit insurance
More and more countries of the world operate explicite deposit insurance schemes and many of these have additional responsibilities beyond compensating depositors such as crisis management. This year 25 years old of OBA had also early intervention mandate between 1993-2006, while it currently has supporting function to bank resolution from 2014. Andras Komar, Managing Director and Andras Sulyok Senior Analyst co-authored an article on the alternative intervention role of OBA that was reently publised at Economy&Finance scientific periodic on the occasion of the 25th anniversary of OBA.
Continue ReadingRole of deposit insurance in the trust to the banking sector
Maintaning and building public trust toward the banking sector is not only pure interest but it is also a never ending task of the leaders and employees of the sector as well as it is of the governmental and political actors. The most efficent tool of this mutual interest is the existance of the deposit insurance. Article that covers link between public trust and role of deposit insurance written by Dr. Levente Kovacs, Secretary General of the Hungarian Banking Association has been appeared in the Special Editon of the Economy&Finance periodic on the occasion of the 25th anniversary of OBA (National Deposit Insurance Fund of Hungary). #oba #depositinsurance #banktrust #deposits
Continue Reading