President: I'm not backing out of FX loan conversion law
14:14
President Andrzej Duda said on Friday that he is not withdrawing from his obligation regarding the FX mortgage loan conversion bill and he believes that "the project will be ready soon."
"We have an opinion from the central bank NBP, we have an opinion from the financial watchdog KNF. At present, a team of experts is analyzing them," the president said. He added that he will take the needs of borrowers into consideration, as well as the needs of the financial sector. "So that it doesn't shake the stability of the sector and the financial safety of Poland."
In a report issued mid-March, the KNF assessed that the burden of converting the FX mortgage loans for the Polish banking sector, in line with presidential draft bill, would likely amount to PLN 67.2 billion. Earlier, the central bank NBP calculated the cost of the bill to be at least PLN 44 billion. In a separate report, the NBP declared that the FX mortgage bill would have a negative impact on the stability of the public finance sector.
