OTP is turning to the Constitutional Court along with several other banks due to the interest rate freeze

OTP Bank, along with other market players, has filed a constitutional complaint regarding the legal elevation of the interest rate cap regulation. This complaint addresses the law enacted in 2026 concerning emergency regulations due to the armed conflict in Ukraine. The interest rate cap was initially introduced by the previous government in January 2022 for six months but has remained in effect. The current parliament elevated these emergency regulations to a legal status during its inaugural session on May 9. Finance Minister András Kármán indicated that the regulation could remain until September 30, but no timely government decision was reached due to disagreements with banks. OTP previously filed three constitutional complaints against the interest rate cap, with no decisions made yet. The bank argues that the law intervenes unnecessarily and disproportionately in private legal relationships, violating constitutional security requirements.