Finance Banking
15:49 20 March 2019
Post by: WBJ

"Swiss Franc Act" may require notification of the EC

"Swiss Franc Act" may require notification of the EC

The presidential draft law on providing state aid to those who took out Swiss Franc-denominated mortgage loans and are in a difficult financial situation should be notified to the European Commission, according to a legal opinion commissioned by the Polish Banking Association (ZBP).

Judging by the case law of the Court of Justice of the EU, this project will be qualified as state aid, the opinion reads. Poland could try to prove that the project is in the public interest and that all of the provided measures are necessary for its implementation, but this will be difficult to do, the authors of the opinion wrote.


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