ECB voices concerns over Hungarian National Bank
Recent measures create potential conflicts of interest, ECB says
The European Central Bank (ECB) raised concerns about a wide range of recent actions taken by the Hungarian National Bank (MNB) in its annual report, published today (April 7).
In one comment, the ECB told the MNB to "ensure that the central bank resources it conferred on its network of foundations are not used, directly or indirectly, for state financing purposes".
The MNB has established six foundations to promote the cause of financial education, endowing them with money from central bank
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