In a report evaluating the central bank's operations in 2011 and 2012, the ASZ said the MNB had provided information on Hungary’s seven largest commercial banks regarding their financing positions, including swap deals and net foreign-currency positions from the time Hungary took out the IMF loan in 2008 until August 23, 2010.

The central bank required the consent of the banks to pass on the information, Simor said, but he acknowledged that the MNB had made a mistake by obtaining the written approval from the banks retroactively.

Fidesz MP Imre Puskas has initiated a meeting of Parliament's audit and budget committee, of which he is the deputy chairman, to summon Simor to learn about the details of the data transfer.

The ASZ had reservations about the MNB's data-storage practices. In the report it found that the MNB had failed to meet regulations between 2009 and 2012.

On Tuesday, the MNB accused the Audit Office of interfering with central bank independence by commenting on its management of foreign-currency reserves.

The ASZ also criticised the MNB’s handling of two-week bonds, to which Simor said the Office had fallen for a common misconception on the issue.

On Tuesday, Simor said the report from the ASZ, run by former Fidesz MP Laszlo Domokos, was part of a personal attack on him and was designed to pave the way for acceptance of his successor.

Source: Hungary Around the Clock

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