FX mortgage loan conversion could be spread over years
14:50
Presidential spokesman Marek Magierowski said banks in Poland may be allowed to spread the cost of converting FX loan mortgages into PLN over several years.
"The (president's) chancellery is working to modify the conversion bill draft. Spreading the banks' costs over years is one of the options," Magierowski said.
Private broadcaster RMF FM said on Friday that the cost could be spread over the next 20-30 years, at a rate of PLN 2-3 billion a year.
In a report issued mid-March, the KNF assessed that the burden for the Polish banking sector of conversing the FX mortgage loans, in line with presidential draft bill, would likely amount to PLN 67.2 billion. Earlier, the central bank NBP calculated the cost of the bill to be at least PLN 44 billion. In a separate report the NBP declared that the FX mortgage bill would have a negative impact on the stability of the public finance sector.
