Locked content FX spread bill to be ready by summer

Polish parliament should complete the work on the FX mortgages bill by summer holidays, the Sejm public finance commission head Jacek Sasin said. The commission will pick the bill from three proposals at the next sitting and continue to work on that project. The drafts include the one put forward by...

Locked content KNF: Presidential bill on FX spreads will cost PLN 9.1 bln

Polish banks would suffer some PLN 9.1 billion cost from the presidential bill on partial return of FX spreads, financial regulator KNF estimated. The two drafts proposed in parliament would, in comparison, would cost PLN 11.1 and PLN 52.8 billion, the Polish Press Agency (PAP) which had an access t...

Locked content Three banks under scrutiny over FX rate setting rules

Poland’s antitrust watchdog UOKiK has launched inquiry, regarding banks BZ WBK, Millennium and BGZ BNP Paribas FX rates setting rules, which UOKiK called “unclear.” “The provisions in question are both imprecise and discretionary in nature; for example, the currency exchange rate would be dete...

Locked content Sejm sends bills on foreign currency credits to finance committee

On Thursday, the Sejm voted to refer a presidential draft law on foreign currency credits to its Committee on Public Finances. This was followed on Friday by a vote on a Nowoczesna party motion to reject the first draft laws on this matter submitted by Civic Platform (PO) and Kukiz’15. The Sejm vote...

Locked content Presidential FX bill will generate significant costs: KNF

The presidential bill on FX spread returns aimed at helping CHF mortgage borrowers would “solve nothing,” but generate a “significant” cost to the banking system, stated Andrzej Jakubiak, the outgoing head of the Polish financial regulator KNF. “For several banks it could result in a loss,” Jakubiak...