OTP and Several Banks Appeal to the Constitutional Court to Annul the Retail Interest Rate Freeze

OTP, Erste, K&H and Raiffeisen want the Supreme Court to annul the government's previous measure.

According to the banks, the interest rate freeze decree unnecessarily and disproportionately interferes with private law contracts, retrospectively. OTP Bank, together with several other market players, filed a constitutional ... ...

The COVID emergency has passed, but the interest rate stop has remained while the interest rate environment has increased.

Several banks have had enough and have turned to the Constitutional Court regarding the government's measures - they are requesting a declaration that they are contrary to the Fundamental Law.

Several banks, including OTP Bank, Erste, K&H and Raiffeisen, have turned to the Constitutional Court to declare the regulation known as the retail interest rate freeze unconstitutional - the Hungarian Banking Association can be read in a statement sent to us. The government introduced an interest rate freeze on variable-rate retail mortgage loans in 2021, citing the Covid emergency, they write, and then go into details: "According to this decre…

Several members of the Hungarian Banking Association have appealed to the Constitutional Court to declare the regulation known as the retail interest rate freeze unconstitutional.