Banks have second thoughts about the bill on limiting foreign currency mortgages

However, regardless of this fact some banks have already stopped granting such loans. "All banks, which are active in this segment, unanimously announced that the proposal of General Inspectorate of Banking Supervision (GINB) went too far. Costs, which would have to be borne in relation to the implementation of the law would be extremely high. Interestingly, even GINB agreed with them," said a person who participated in the meeting of the National Banking Association (ZBP), GINB and representatives of the largest banks. The estimated costs of implementing the bill, if it was enacted in its current shape, could be as much as zł.17 billion, which is over 30% of the current capital of the sector. "Additionally, some banks would have to double their capital," said Józef Wancer, president of Bank BPH. The parties agreed that by March 3 banks would prepare their own version of the bill. Most likely, the new bill will combine both GINB's proposal and the proposal of banks. (Puls Biznesu, pp. 1, 3)