tag:blogger.com,1999:blog-8991011795878449815.post6970863723085836844..comments2024-01-28T22:41:53.640-08:00Comments on Global Social Change Blog <br>: Hungary's Brokerage Crisis: How Far Will It Reach?József Böröczhttp://www.blogger.com/profile/15332488440939097840noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8991011795878449815.post-20687268351919718172015-03-10T15:33:42.452-07:002015-03-10T15:33:42.452-07:00Today (March 10, 2015) Quaestor Fund--a second bro...Today (March 10, 2015) Quaestor Fund--a second brokerage house after Buda-Cash--has collapsed in Hungary. Missing amount: 60 billion HUF; total base capital: 10 million. Very close ties to the government (joint trading houses, personal nexuses to high government officials) have been reported. Not a good piece of news for investors, not to mention the economy as a whole. Of course nobody talks about labor at all.József Böröczhttps://www.blogger.com/profile/15332488440939097840noreply@blogger.comtag:blogger.com,1999:blog-8991011795878449815.post-56672003427867358232015-03-04T13:45:04.441-08:002015-03-04T13:45:04.441-08:00On March 3rd, the Deposit Insurance Fund began com...On March 3rd, the Deposit Insurance Fund <a href="http://hvg.hu/gazdasag/20150303_Indul_a_budacashes_bankok_beteteseinek_k" rel="nofollow">began compensation of bank depositors</a> up to a max of EUR 100 thousand. József Böröczhttps://www.blogger.com/profile/15332488440939097840noreply@blogger.comtag:blogger.com,1999:blog-8991011795878449815.post-49270124939228755502015-02-28T08:40:10.326-08:002015-02-28T08:40:10.326-08:00Update on clients:
Bank account holders will be ...Update on clients: <br /><br />Bank account holders will be compensated, automatically, up to EUR 100 thousand, within 20 days of the point of declaration of bankruptcy, if/when that should happen, by the National Deposit Insurance Fund. (Estimates run to the tune of HUF 70 billion missing from the banks.) <br /><br />Investors (where another HUF 30 billion seems to be missing) will have to file requests with the Investors Protection Fund, each claim is evaluated separately within 90 days, payouts can take an additional 90 days, and the ceiling is EUR 90 thousand.<br /><br />Otherwise no real news, except the beginnings of political mudfight, the govt party and the main opposition party accusing each other, with no real evidence worth mentioning.József Böröczhttps://www.blogger.com/profile/15332488440939097840noreply@blogger.comtag:blogger.com,1999:blog-8991011795878449815.post-22348780979875602972015-02-27T14:39:40.661-08:002015-02-27T14:39:40.661-08:00Today's update: clients have been allowed a _o...Today's update: clients have been allowed a _one-time withdrawal_ of HUF 60 thousand (EUR198.21) and told that there will be no more withdrawals until the end of the investigation (by the finance authority as well as the police). Could be years.József Böröczhttps://www.blogger.com/profile/15332488440939097840noreply@blogger.com