- miniszterelnok.hu - http://www.miniszterelnok.hu/viktor-orban-holds-talks-with-sandor-demjan-on-savings-cooperatives/ -

Viktor Orbán holds talks with Sándor Demján on savings cooperatives

In his letter to the Prime Minister, Mr. Demján wrote that the aim of the savings cooperatives integration is to expand the results and assets of the savings sector. Yet recent events seem to be proving the opposite, and thus the achievement of the aims has to be reviewed. In his response, the Prime Minister said that he considers the transformation of the savings cooperatives system to be successful and complete. It has successfully been “freed of shady deals” and recapitalised. Nevertheless he accepts Mr. Demján’s opinion that the system of savings cooperatives cannot operate without appropriate supervision.

On 7 June the National Assembly decided to put the whole savings association system under the banking supervision of the Hungarian National Bank.