Home -- Regulation -- Code of Conduct
Code of Conduct - Principles of fair conduct by financial organizations engaged in retail lending

The purpose of this Code of Conduct is to strengthen  the confidence indispensable in the relationship between retail borrowers and creditors.  By fully obeying the principles set forth in this Code creditor institutions commit themselves to responsible and transparent lending to their retail customers, in their proceedings during the period preceding the lending transaction and the entire term of the credit granted alike, as well as upon the occurrence of payment difficulties.

Call for joining the Code of Conduct on principles of fair conduct by financial organizations engaged in retail lending

On 16th September 2009, 13 credit institutions signed the Code of Conduct on principles of fair conduct by financial organizations engaged in retail lending.

The scope of the Code  applies to all signatory financial institutions engaged in retail lending, thus, to commercial banks, mortgage credit institutions, building associations, savings- and credit cooperatives, the branches and financial enterprises including leasing and factoring companies, as well as to insurance companies and pension funds offering credit products.   

Simultaneously, with this present call those financial organizations engaged in retail lending which did not sign the Code in the first round may join the Code.

The intention of joining the Code can be fulfilled by signing the Joining Statement which should be sent to the Hungarian Financial Supervisory Authority (HFSA). Those institutions having an association of professionals may also send the mentioned Joining Statement through their associations.

The Code and the Joining Statement can be downloaded from the website of the HFSA.

The Joining Statement can be sent to the HFSA via post (39. Krisztina krt., Budapest,1013) or to the following e-mail address with an e-signature: horvath.anna@pszaf.hu.

Budapest, 23 September 2009

Hungarian Financial Supervisory Authority

Customer service
Complaints