Morawiecki: bank tax will continue

Poland’s Minister of Finance and Development, Mateusz Morawiecki, said that the tax imposed on private banks in 2016 was good and will continue, in some form, in 2017. He was speaking in an interview with TV station Polsat. “[The tax] is needed, and in 2016 [it] had a moderate impact on the economy,...

Locked content KNF to present its opinion on FX mortgage relief

The financial market regulator KNF announced it will publish an opinion on the presidential bill on FX mortgage spreads return at the beginning of October 2016 at the latest. The draft bill was submitted to the lower house in Polish parliament, the Sejm, in August. The offer applies to both FX-denom...

Locked content UOKiK submits to court over FX-mortgages at mBank

The Consumer Protection Authority (UOKiK) has for the second time struck down a contractual clause in some existing mortgage loans of commercial lender mBank, the watchdog informed on Friday. “Contract clauses that too vaguely indicate the grounds for changing interest rates are prohibited, as...

Locked content UOKiK launches proceeding against mBank over FX-mortgages

The Consumer Protection Authority (UOKiK) has struck down a contractual clause in some existing home mortgage loans of commercial lender mBank which had allowed the bank to set discretionary margins on FX-mortgages, opening the door for those loans to be nullified, the head of UOKiK Marek Niechcial ...

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...

President presents FX mortgage loans conversion bill

President of Poland Andrzej Duda held a meeting on Friday with the representatives of organizations of franc borrowers. After the encounter, the President presented his draft bill aimed at easing the burden of FX mortgage borrowers. The project envisages that the borrowers would gain the opportu...

Locked content Half of Poles against supporting franc borrowers

As much as 52 percent of Poles replied negatively to the question, whether the state should financially support franc borrowers, according to a survey conducted by IQS, cited by the Polish daily Puls Biznesu. Nearly a third (31 percent) of surveyed Poles think that the government should back the bor...