Financial Regulation in Hungary

The paper aims to study the evolution of the financial regulation and supervision in Hungary from 1987, the year when the foundations of the two-tier banking system were laid. After a brief overview of the history of the Hungarian financial system we turn our attention to the history of the financial regulation. We investigate systematically the main areas of the national financial regulation and discuss the implementation of the financial directives of the European Union in Hungary. Our analysis on the development of the Hungarian legal system concludes that it is almost fully harmonized with the European legislation.