Locked content Duda encourages Swiss, Polish banks to work together

Polish president Andrzej Duda met with his Swiss counterpart, Johann Schneider-Ammann, on Monday in order to attempt to alleviate some of the pressure put on homeowners in Poland whose mortgages were denominated in Swiss francs. “I requested that (we) forge a closer relationship between the National...

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 Government asks KNF to provide a base for CHF conversion

“The government wants to adopt a law on loans in Swiss francs (CHF), but we still do not have all the information on the mortgage loans, and we hope that the Polish Financial Supervision Authority (KNF) will provide a base, which contains the costs of currency conversion,” said Henryk Ko...

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...