However, in a decision more favourable to banks, the judges said it is not fundamentally wrong to make borrowers bear the risks of exchange-rate fluctuations, if sufficient information is provided.
 
Bank Association president Levente Kovács said banks accept the ruling but still consider it unfair, because the use of the exchange-rate margin in the contracts was based on professional considerations, and all modifications to the contracts were in line with legal regulations in effect at the time.
 
Source: Hungary Around the Clock
 
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.