The operative part of uniformity decision no. 1/2016 PJE

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1. Foreign currency-based consumer and retail loan contracts comply with the requirement set forth in Section 213 subsection (1) a) of Act no. CXII of 1996 on Credit Institutions and Financial Enterprises (henceforth: Hpt) where the written contract, including the general contractual terms which become part of the contract upon the conclusion of the contract, determines the provided loan amount in HUF (payment currency), provided that the equivalent amount in foreign currency (calculation currency) of the thus determined loan amount can be precisely calculated on the basis of the exchange rate applicable at the future time of conversion specified in the contract or, in lack of such stipulation, at the time of the disbursement of the loan amount.

2. Foreign currency-based consumer and retail loan contracts also comply with the requirement set forth in Section 213 subsection (1) e) of Hpt. where the written contract, including the general contractual terms which become part of the contract upon the conclusion of the contract, specifies in a predictable manner the numbers, amounts and payment dates of the instalments to be paid. The instalment amounts to be paid are to be regarded as predictable where the contract specifies, at least, the data and calculation method based on which the instalment amounts payable at the future time of conversion set forth in the contract or, in lack of such stipulation, at the successive due dates of the instalment payments can be precisely calculated.

3. Where a foreign currency-based consumer and retail loan contract, including the general contractual terms which become part of the contract upon the conclusion of the contract, contains the elements specified in paras 1. and 2. above, a unilateral legal declaration (e.g. reimbursement notification, loan repayment plan, loan repayment schedule) is to be considered as information provided to the consumer by the financial institution, not affecting the existence or validity of the contract at issue.