bankjog - banking

Banking and Finance

How can a lawyer active on the field of banking law help?

Let’s briefly look at which processes are included in banking law and financial law:

–      financing of company acquisitions;

–      project financing;

–      syndicated loans (lending involving many players where several banks provide financing);

–      corporate financing;

–      refinancing;

–      restructuring;

–      loan security schemes;

–      procedures before the National Bank of Hungary (MNB) as supervisory authority (authorisation, supervisory procedures, provision of data and   notification of changes);

–      GTC, internal regulations and regulatory issues;

–      legal support for cash pooling schemes, derivative transactions, and capital market transactions.


Banking law and financial services in Hungary and the European Union          

Banking law and financing are special areas of law, relying heavily on legal interpretation and practice by the authorities in addition to the numerous sources of law. Furthermore, in case of high-value financing, the knowledge of common law terminology and case law is also required.

It is not only in the territory of Hungary that financial services may now be provided, because exercising the right to provide services and get established in the European Union allows for providing cross-border financial services also in the territory of EU Member States without having to obtain specific authorisation from the financial supervisory authority of that Member State.

Cross-border services are also possible for players in money markets, capital markets and insurance markets.

Of course, the supervision of cross-border service providers is carried out by the financial supervisory authority of the home country. The intent to provide cross-border services needs be notified there, and only a ‘passport’ needs be obtained and used in the country of destination.

We provide high-level services in and advice to our clients on all of the above-mentioned issues and processes. 


Now that we have already become familiar with the various processes of banking law, here is a review of some of the activities in which we provide excellent professional assistance to our clients:

–      legal consulting on and participation in financing company acquisitions and projects;

–      drafting documents and consulting on syndicated loans;

–      corporate financing, refinancing and restructuring;

–      devising and reviewing security schemes;

–      full representation in procedures before the supervisory authority (National Bank of Hungary, MNB) (authorisation, supervisory procedures, provision of data, notification of changes) to capital market, fund market, money market and insurance market players and foreign institutions providing cross-border services;

–      drafting GTCs and internal rules;

–      consulting on complex regulatory issues and obtaining position statements from the National Bank of Hungary (MNB);

–      creating and reviewing cash pooling schemes;

–      participating in capital market transactions;

–      participating in derivative transactions.

All the processes and services listed above require appropriate skills in the area of banking law. Perhaps one of the most complex regulatory tasks is to obtain authorisations from the National Bank of Hungary (MNB) and to make notifications, so it is worth choosing a lawyer with experience in banking law, who is at home and has the appropriate experience in the industry (money markets, capital markets and insurance markets). Only in this case can you be sure that you will be properly represented in these procedures.

We provide up-to-date, clear advice understandable to everyone on almost any financial regulatory issue and can efficiently represent its clients even in the most complicated procedures.

Of course, we are able to provide assistance in regulatory and administrative (notification) issues concerning cross-border services in the area of banking law as well as related issues to an outstanding professional standard.