KNF to present its opinion on FX mortgage relief
16:55
The financial market regulator KNF announced it will publish an opinion on the presidential bill on FX mortgage spreads return at the beginning of October 2016 at the latest.
The draft bill was submitted to the lower house in Polish parliament, the Sejm, in August. The offer applies to both FX-denominated and FX-indexed loans, not limited to mortgages.
According to the draft, the Polish government will force banks to refund a portion of FX spreads taken on FX-loans to date in the "first stage" move to offering FX-mortgage relief, with the cost for banks seen at PLN 3.6-4 billion.
Earlier, the KNF assessed that the burden for the Polish banking sector of converting the FX mortgage loans (in line with the presidential draft bill) would likely amount to PLN 67.2 billion, while the NBP stated the cost of the bill would be at least PLN 44 billion.
