Locked content Expert team to prepare changes to the CHF loans draft bill

Poland’s Presidential Chancellery has established an expert team to prepare changes to the CHF loans draft bill. The proposal should be presented at the turn of May and June, the chancellery reported. Experts will solve the problem of people with loans denominated in and indexed to foreign cur...

Locked content Morawiecki: Fx mortgage bill may be tweaked

Vice-Prime Minister and Minister of Development Mateusz Morawiecki said that the Swiss Franc mortgage bill should be a voluntary solution. Speaking to journalists after the announcement of his economic development plan, Morawiecki noted that foreign investors have the ability to appeal to internatio...

Locked content Moody’s: Polish banks will lose PLN 36 bln on FX loans conversio...

Rating agency Moody’s said that the upfront costs for banks of converting foreign-currency mortgages (mostly Swiss franc-denominated) into the local currency, the złoty, would be credit negative for banks because it would result in one-off losses, of PLN36 billion at the time of implementation...

Morawiecki: Best to wait a few months with the Franc bill

Deputy Prime Minister and Minister of Development Mateusz Morawiecki said that it is best to wait a few months before implementing the Swiss Franc mortgage bill, so that the mortgage conversion algorithm in the bill can be precisely examined. He added that the main aim should be to “ease the b...

Szałamacha: Banks can spread out Franc bill expenses

Minister of Finance Paweł Szałamacha said on Thursday that the banking sector may spread out any losses resulting from the Swiss Franc mortgage bill. The media have estimated that this measure may result in expenses of 30-50 billion PLN for the entire industry.

Locked content President Duda to propose his own bill on FX mortgage conversion

President’s Chancellery Minister Maciej Łopiński said on Tuesday that President Duda wants his chancellery to form a team of experts, borrowers and lenders that would work on a new version of a bill of foreign currency mortgage loans conversion. “I think the team could be created in the ...

Locked content Senate committee: FX loans bill back to initial version

Poland’s Senate public finance committee recommended on Thursday to restore the bill on converting foreign currency mortgages into złotys to its initial version that split the conversion costs 50/50 between a bank and a borrower. The bill approved earlier in August by the Sejm puts the burden ...

Locked content FinMin: Poland observes law regarding FX loan conversion

Izabela Leszczyna, a deputy finance minister, said that Poland is observing international law with regard to the FX mortgage loan conversion and there is a chance the Senate will restore the foreign currency denominated mortgage bill to its initial version to avoid potential lawsuits from banks. She...