TITLE: Hungarian National Bank Issues Enforcement Action Against Momentum Credit for Late Reporting
BODY:
On June 22, 2026, the Hungarian National Bank (MNB) issued decision H-STA-I-15/2026 against Momentum Credit Zrt., a financial services provider, for failing to meet regulatory reporting deadlines.
The MNB determined that Momentum Credit failed to submit audited supervisory reports to the central bank's information system by the deadline specified in MNB Regulation 55/2024 (December 3, 2024). The regulation requires financial institutions to submit specific audited data-based reports covering rows 1–3, 12–32, 34, and 35 of the summary table in Annex 4, along with associated supporting documentation. These reports are mandatory for the MNB to perform its supervision of money and credit market organisations. Momentum Credit submitted the required audited supervisory reports late, breaching its statutory data reporting obligations.
The MNB issued a formal notice requiring Momentum Credit to comply fully with all future data reporting obligations mandated by law or MNB administrative decisions and to demonstrate lawful conduct. The decision notes that repeated violations of laws and MNB decisions within the MNB's supervisory scope may result in further enforcement action under the MNB Act and the Credit Institutions and Financial Undertakings Act. Potential sanctions include fines ranging from 100,000 Hungarian forints to 2 billion forints, or 200 percent of the entity's annual supervisory fee (base fee plus variable fee), whichever is higher. The MNB may also revoke Momentum Credit's operating licence. No procedural costs were incurred during this proceeding.
László Ipacs, Director of the Statistics Directorate, signed the decision on behalf of the MNB.