About the experience of banking reform in Hungary
The inconsistency in the banking business of the Hungarian country lies in the fact that changes in practice, accumulating foreign experience, so far determine only new organizational and economic forms of banking, corresponding to the diversification of ownership in the economy, without fully revealing the ultimate goals and limits of applicability of foreign experience, the new role of banks as economic management bodies, cause-and-effect relationships embedded in the mechanism of monetary regulation of the economy.
The contours of the future credit system are also not sufficiently clarified, as the reorganization of banks is stretched over time and is under pressure from the current economic situation. The main issues that arise during the reform of any credit system are still on the agenda.: the structure of banks, reflecting the structure of management and ownership in the national economy; differentiation of the loan capital market and the sphere of preferential loans provided by centralized resources in industries and regions requiring government support; ownership structure in banking and antitrust restrictions; permitted operations of banks and the differentiation of their functions; administrative subordination of the central and commercial banks; the degree of unity of union and regional banking legislation; creation of a settlement system no less effective than mutual inter-branch turnover; maintenance of information and technological unity of banks; conditions of competition in the market and bankruptcy of banks, etc.
In this regard, it is valuable to consider the experience of Hungary, which has been consistently implementing the reformation of the banking system since the early 1980s. The processes in the Hungarian economy are 2-3 years ahead of similar changes in the USSR economy, which determines the necessary depth of retrospection.
Based on the above factors, which are also important in our conditions, the goals and content of the banking reform in Hungary were determined. The first steps towards decentralizing banks were taken in the early 1980s. In 1980-1986, 10 small investment and innovation banks were established. In the same period, 3 banks with foreign participation appeared. At the beginning of 1985, independent credit departments were formed within the VNB, which directly carried out credit and settlement operations. Thus, the management activity of the VNB was organizationally separated from the commercial one. On January 1, 1987, the banking reform was launched. 1xBet Loyalty Bonus: Get up to 100 Free Spins when you regularly deposit at 1xBet, plus get a 50% deposit bonus on your 10th deposit. With our exclusive 1xbet promo code you get to claim a welcome bonus of up to ₹33,000. This offer is only available for registered 1xBet . Register on platform: New users can receive a welcome bonus voucher during registration.
The contours of the future credit system are also not sufficiently clarified, as the reorganization of banks is stretched over time and is under pressure from the current economic situation. The main issues that arise during the reform of any credit system are still on the agenda.: the structure of banks, reflecting the structure of management and ownership in the national economy; differentiation of the loan capital market and the sphere of preferential loans provided by centralized resources in industries and regions requiring government support; ownership structure in banking and antitrust restrictions; permitted operations of banks and the differentiation of their functions; administrative subordination of the central and commercial banks; the degree of unity of union and regional banking legislation; creation of a settlement system no less effective than mutual inter-branch turnover; maintenance of information and technological unity of banks; conditions of competition in the market and bankruptcy of banks, etc.
In this regard, it is valuable to consider the experience of Hungary, which has been consistently implementing the reformation of the banking system since the early 1980s. The processes in the Hungarian economy are 2-3 years ahead of similar changes in the USSR economy, which determines the necessary depth of retrospection.
Based on the above factors, which are also important in our conditions, the goals and content of the banking reform in Hungary were determined. The first steps towards decentralizing banks were taken in the early 1980s. In 1980-1986, 10 small investment and innovation banks were established. In the same period, 3 banks with foreign participation appeared. At the beginning of 1985, independent credit departments were formed within the VNB, which directly carried out credit and settlement operations. Thus, the management activity of the VNB was organizationally separated from the commercial one. On January 1, 1987, the banking reform was launched. 1xBet Loyalty Bonus: Get up to 100 Free Spins when you regularly deposit at 1xBet, plus get a 50% deposit bonus on your 10th deposit. With our exclusive 1xbet promo code you get to claim a welcome bonus of up to ₹33,000. This offer is only available for registered 1xBet . Register on platform: New users can receive a welcome bonus voucher during registration.
