Mihály Varga: Treasury securities accounts are automatically opened for all Hungarians

RockedBuzz
By RockedBuzz 2 Min Read

Currently, all Hungarians can open a treasury securities account for free, and there’s no have to pay for buying and selling on it. However, in response to the newest announcement, the account could be opened for all Hungarians as residents with out having to do anything.

According to the newest knowledge from the MNB, in September the Hungarian inhabitants’s holdings of presidency securities exceeded HUF 12,000 billion. This 12 months, the month-to-month holdings of presidency securities of households elevated probably the most in January and March, in each instances by properly over 300 billion, the change in September is the second lowest to this point this 12 months with its 121 billion.

As with the earlier measures, presumably the purpose of computerized treasury account opening is to direct the inhabitants in the direction of the federal government securities market within the largest attainable amount.

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In phrases of the paper’s recognition, Premium Hungarian State Paper is undoubtedly the favourite of Hungarian savers. As we reported final time, the common annual inflation could vary between 17.7 and 17.9, so subsequent 12 months’s yield of PMÁP could possibly be over 18%.

The authorities took a number of measures this 12 months to extend the demand for authorities securities. There is, for instance, the modification of the principles on the underlying investments of funding fund managers, the imposition of the social contribution tax on returns, but additionally the necessary warning letter from the banks. We wrote extra about these within the following articles:

Cover picture supply: Portfolio

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