György Matolcsy, the Governor of the Magyar Nemzeti Bank established the Lámfalussy Award in 2013 to recognise outstanding professional performance and lifetime achievements on the international scene that influence the work the Magyar Nemzeti Bank and international monetary policy in general. In addition, the award presentation ceremony creates an opportunity for the MNB to focus the attention of the international community of economists and economic policy makers on Hungary’s role in the transformation of economic theory and economic policy. Lámfalussy, the eponym of the award, symbolises Hungary’s significance in global economic developments

Honouring the legacy of Lámfalussy, the Lámfalussy Sándor Award may be awarded to outstanding financial and economic professionals who performed internationally acclaimed professional work, scientific publications or educational work that have a major long-term impact on the development of the Hungarian and international monetary policy, economics and the professional community.