Hungary: Interest rates on HUF year-end long balances
Clearstream Banking1 would like to remind customers that over year end, interest rates in HUF are subject to unusually high volatility. Current market movements together with indications received from Clearstream Banking’s Cash Correspondent Bank (CCB) in the Hungarian market have shown that negative interest rates may reach unusual high rates per annum.
Customers are asked to monitor their cash balances and ensure they remain within normal business levels. In the event that HUF balances are in excess of normal business levels, and as a result of prevailing market conditions, Clearstream Banking will pass on the costs incurred in the market to customers.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.