Hungarian constitutional court strikes down central bank law
Both of Hungary’s highest courts rule against law on central bank assets
Hungary's two highest law courts have ruled a recently passed amendment to the country's central bank law is unlawful and unconstitutional.
The law classes assets transferred by the Central Bank of Hungary (MNB) to six "foundations" as private rather than public funds. Under Hungarian law, information on transactions involving public funds must be made public, whereas private funds are subject to far fewer transparency requirements.
The Hungarian constitutional court ruled today (March 31) that
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