President asks KNF to provide detailed FX spread bill cost calculation

President Andrzej Duda’s chancellery asked the financial market watchdog KNF to provide detailed calculations of its previous cost estimate of the presidential bill on returning currency spreads on FX mortgages. KNF estimated it at PLN 9.3 billion, while the chancellery calculated it at PLN 3.6-4 billion. The Polish Central Bank (NBP) estimate was in line with the KNF forecasts.

According to the analysts, the presidential calculations did not take into the account the matter of spreads included with the monthly installments, just the spread for the initial amount of the loan.

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