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 Bank union suggests changes to the FX mortgage conversion law

The Polish Bank Association (ZBP) is proposing a number of changes that they think should be implemented into the law on foreign currency conversion of mortgage loans. The biggest threat to the sector’s stability, according to ZBP is the rule that 90 percent of the costs of such conversions sh...

Locked content Franc borrowers protested in Warsaw

As many as 5,000 people gathered in Warsaw to demand the possibility to convert franc-denominated mortgage loans to złoty-denominated mortgage loans. “We do not demand any subsidies from the state. We want banks to give back the money that they have taken illegally. We want banks to convert ou...

President’s plan for holders of mortgage loans

President of Poland, Bronisław Komorowski, has posed that banks and the government should establish a mortgage loan restructure fund aimed at helping borrowers who have trouble paying back their debts. This is yet another proposition intended to solve the difficult situation of the holders of Swiss ...

KNF’s plan for franc borrowers

The Head of the Financial Supervision Authority (KNF), Andrzej Jakubiak presented a plan for franc-denominated mortgage loan conversion. It assumes that mortgage loans would be converted to two złoty-denominated debts. The first would be secured by the mortgaged property and would correspond to the ...

FM: gov’t will support banks to aid franc debtors

The government will support banks in order to help debtors with franc-denominated loans, Finance Minister Mateusz Szczurek said that told TVN23 BiŚ. “The government supports debt restructuring plans that banks are carrying out. One should remember that it is in the banks’ interest to offer such a re...

Locked content Franc-denominated loans conversion to the złoty possible – KNF

Head of the Financial Supervision Authority (KNF) Andrzej Jakubiak has posited that converting franc-denominated mortgage loans with exchange rate from before the CHF appreciation could be possible. However, debtors would have to cover the difference between franc-denominated and złoty-denominated l...