Szczurek: Franc-denominated loan conversion could cost up to PLN 20 billion
11:23
Polish Finance Minister, Mateusz Szczurek, has said that converting franc-denominated mortgage loans with an exchange rate from before the CHF appreciation would cause a PLN 20 billion loss in the banking sector per year.
Andrzej Jakubiak, head of the Financial Supervision Authority (KNF), had said earlier that such a conversion was possible.“The proposition poised by Jakubiak is half-baked,” Szczurek told Polish radio broadcaster TOK FM.
FinMin also stated that the government is not working on any special bill aimed at helping franc-borrowers. The anti-spread bill is already in force, he added. When asked if the government is threatening banks with the introduction of an unfavorable law, if they do not play fair with franc-borrowers, he replied “Yes, indeed.”
“The role of the government is to enforce the integrity of economic exchange. This is the basis of every activity, also towards franc-debtors," Szczurek stated.
