KNF predicts Polish banks' losses due to the FX mortgages
19:14
"In the coming periods, the law on the tax from select financial institutions may exert a lot of pressure on bank results (some banks may start generating losses or find themselves barely profitable). But the main regulatory risk is the potential implementation of extreme options for resolving the issue of FX mortgages that could lead to destabilization of the banking system, and would also have a negative impact on the whole economy and public finance," the financial market regulator KNF said in a report.
The watchdog also said in reiteration of its mantra, that banks are well advised to follow KNF recommendations, diversify sources and increase stability of sources of financing.
"Banks should also intensify efforts for limiting the risk tied to FX mortgages," KNF concluded.
