Key Documents



Country-specific meetings

Debt Restructuring and NPL Resolution Workshop

Budapest, 3 March 2015

FHA_2489 Piroska Adam
Piroska M. Nagy (EBRD) and Ádám Balog (MNB)

The Central Bank of Hungary (Magyar Nemzeti Bank, MNB) and the European Bank for Reconstruction and Development (EBRD) held a prominently attended workshop under the Vienna Initiative on ways to assist banks’ and the authorities’ efforts at the resolution of non-performing loans (NPLs) through concrete and sustainable actions. Leading bank groups operating in Hungary, potential investors and IFIs discussed the legal, tax and regulatory environment in Hungary for NPL resolution. They also examined in-house NPL management, including out-of-court restructuring and ways to facilitate sales of corporate NPL portfolios as well as experiences with asset management companies (“bad banks”). International professionals set out examples of international best practice.

For more information on the event and its outcomes, please click on the links below.

Press Release

Meeting Programme and List of Participants

Analysis of Corporate Restructuring and Insolvency in Hungary - Final Report


1. NPL resolution: a macro view - G. Fábián, MNB

2. NPLs in Hungary: a regional perspective - J. Roaf, IMF

3. Analysis of Corporate Restructuring and Insolvency in Hungary - EBRD, White and Case and Ernst & Young

4. EBRD & The Central Bank of Hungary - A. Rawal and A. MacCallum, Alvarez & Marsal

5. Asset Management Companies: Observed best practices - Martin Rauchenwald, Oliver and Wyman

6. What Role for "Bad Banks": A perspective from Slovenia - M. Mavko, EBRD & DUTB

7. Corporate NPL Sales: the role of specialist investors - P. Le Baquer, Rothschild

Busapest WS participants