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 Kowalczyk, Chairman of the Permanent Committee of the Council of Ministers. According to him, the government does not have access to the credit information, while the KNF has it. In its turn, the KNF "haven't prepared the analysis precisely enough, it does not show everything needed to be able to discuss swiss mortgage aid." Earlier on January 15, Poland’s president, Andrzej Duda presented a draft legislation to convert existing mortgages denominated in Swiss francs into Polish zlotys to help borrowers saddled with bloating debt.