Hungary: Technical Assistance Report—Operational Aspects of Establishing an Asset Management Company
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Summary:
This Technical Assistance report examines Operational Aspects of Establishing an Asset Management Company. In November 2014, the Magyar Nemzeti Bank (MNB) established the Magyar Reorganizációs és Követeléskezelo (MARK), an asset management company. This step was taken to help restore monetary transmission, credit growth, and economic recovery. The MNB has established MARK on a sound foundation: banks’ participation is voluntary, market prices determine valuations, and MARK’s lifetime is 10 years. MARK has a clear, well-defined mandate to focus on maximizing the value of its assets. This is supported by an ambitious return on equity and a valuation methodology based on market prices.
Series:
Country Report No. 2015/239
Subject:
Asset and liability management Asset management companies Auditing Financial institutions Loans Nonperforming loans Public financial management (PFM)
English
Publication Date:
August 20, 2015
ISBN/ISSN:
9781513547299/1934-7685
Stock No:
1HUNEA2015004
Pages:
13
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