György Matolcsy, President of the Hungarian National Bank (MNB), held a press conference on the monetary council’s decision at the central bank’s headquarters on March 26, 2019.
Photo: MTI/Szilárd Koszticsák
The statement is false and there is no basis in reality for what an unknown person is spreading on TikTok about the freezing of retail bank deposits up to a certain amount after the municipal elections in Hungary
– stated the Magyar Nemzeti Bank in its statement on Thursday.
At the same time, this groundless harassment can confuse some customers and is suitable for shaking confidence in financial stability, they explained.
Therefore, the central bank has turned to the investigative authority within the framework of the KiberPajzs cooperation, and is immediately filing a complaint against the unknown perpetrator on suspicion of committing a crime.
The MNB has confirmed that bank deposits are one of the safest forms of savings in Hungary. Based on domestic and EU rules, bank deposits are paid not only by well-capitalized, stable banks that are constantly monitored and supervised by the MNB, but also by the National Deposit Insurance Fund up to EUR 100,000 per deposit (i.e. currently about HUF 39 million).
According to the free bank deposit and savings search program available on the MNB’s website, at several domestic credit institutions today, customers can obtain interest rates above 10 percent, i.e. well above inflation (EBKM), by committing even a few hundred thousand forints, the MNB recommended.
In the last 1-2 months, domestic HUF deposits started to grow again and approached HUF 10,000 billion. The MNB also drew attention to the fact that, in addition to deposits, banks also offer other advantageous forms of savings, such as government securities, investment certificates, bonds and shares, in one place by opening a securities account.
Tags: Horrible news spreading TikTok freezing deposits MNB files report
