Hungarian Leasing Companies Hurt By FX Law
- 8 Aug 2014 9:00 AM
The law on foreign-currency loans will shake up the leasing sector, leading to the demise of smaller, mostly local companies, Leasing Association head Gábor Lévai told Napi Gazdaság.
The Association projects that the regulation will cost its members Ft 100 billion.
Given the nature of leasing services, companies had no way to access foreign currency at medium rates, therefore their use of exchange-rate margins was not unfair, Lévai argued.
Members of the Association hold 300,000 foreign-currency lease contracts.
Source: Hungary Around the Clock
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