Hungarian financial market regulator PSZAF is taking steps against banks that make it prohibitively costly for borrowers to restructure their loans, PSZAF head Adam Farkas said at a meeting of the Hungarian Business Salon on Monday.

One-off charges are making it impossible for some borrowers to restructure their loans, Mr Farkas said.

The law puts a cap on one-off fees for early repayment, but for other fees banks must follow the principle of charging the same fee for the same service, he said, answering a question by MTI. If banks charge several different fees for the same service, PSZAF uses the tools available to it to take action, he added.

As competition grows, the cost of borrowing will fall, Mr Farkas said.