Polish banks to offer fund for Polish mortgage borrowers

Krzysztof Pietraszkiewic, the head of  Poland's Bank Association told Reuters on Tuesday that he will table an offer of a draft bill on establishing a special fund for all of mortgage borrowers, regardless if the loans were denominated in the CHF or not. At the same time, the association said no to the idea of conversation of the denominated mortgages into PLN at a historical level. "We want to propose a bill with a ... fund that will support all mortgage holders (regardless of the credit currency) that periodically have problems with servicing their commitments," Pietraszkiewicz said. "The association does not propose a conversion at a historical level, because it would be unbearable for the economy and for the banking system," he added.