FX mortgage loan could be spread over years

Banks in Poland may be allowed to spread the cost of converting mortgages in foreign currencies into zlotys over several years, a spokesman for the president's office said on Friday. "The (president's) chancellery is working to modify the conversion bill draft. Spreading the banks' costs over years is one of the options," spokesman Marek Magierowski said. Local radio RMF FM said on Friday, without naming its sources, the revised presidential draft bill could envisage Poland's central bank or Guarantee Fund lending the money for the conversion to the banks. RMF said this would allow banks to spread the overall costs over the next 20-30 years, at a rate of 2-3 billion zlotys annually.