President may tweak FX mortgage conversion law

The President's chancellery official Przemysław Bryksa told the Polish Press Agency (PAP) that it may tweak the FX mortgage relief law, but it will retain the main mechanisms of conversion. "At the moment, the president's chancellery awaits the effects of works of the KNF," Bryksa said. "After those are presented, final decisions will be made on the content of the draft, its justification and impact assessment." "We are not ruling out making changes to the concept, but we assume that the main mechanisms will be preserved," he added. The National Bank of Poland calculated the cost of the Presidential foreign mortgage bill to be at least PLN 44 billion. Within this figure, PLN 35 billion would be required to convert the mortgages from Swiss francs to złotys at the favorable rates proposed by the President's cabinet. Another PLN 9 billion would go to covering the mortgage spreads of the holders.