July 5th, 2010

MNB chief’s pay linked to average wage

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The salary of the governor of the National Bank (MNB) would be capped at ten times the average gross wage according to draft proposals submitted to Parliament.

The government’s 29-point action plan included a proposal to limit the salaries of executives at state-funded bodies at Ft 2 million a month. Current MNB governor András Simor currently earns Ft 8 million.

The deputy MNB governors receive 70-80% of the governor’s wage and monetary council members 35%.

The new regulations would also maximise the monthly salary of the head of the financial supervisory Pszáf at the same level.

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