Banks divided over franc conversion

[shukla7789]

We heard a proposal from the head of the Polish Financial Supervision Authority, Andrzej Jakubiak. At the session of the Sejm Finance Committee, we heard a declaration about work on the possibility of converting Swiss franc loans by banks. Since then, a number of meetings have taken place with banks in Poland regarding the above proposal. As reported by PAP, the banking community is currently divided. A common concept is to be developed and announced by the banking sector on March 11, this year.

Waiting for March 11th
swiss-franc-chf-creditSome observers believe that converting Swiss franc loans is not the only option. The banking community will probably put forward its own alternative proposal for action in light of the current situation. Some economists expect that after conversion, the interest rate on the "non-mortgage" part of the loan will be higher than 1%. Jakubiak hopes to establish a single, common currency conversion system for all banks that decide to take this step. This would also facilitate the work of the legislator and tax authorities.
Meanwhile, ekonto mbanku has a positive opinion from my side. Let's not el salvador whatsapp database any illusions, part of the banking sector is against the proposal to convert and will not agree to this solution. Banks currently take the position that 1% in the unsecured mortgage part of the loan may be too little. However, the supervisor has several instruments up his sleeve with which he can force concessions from banks. Such as the need to supplement capital in the event of a bank losing a lawsuit and higher weightings for credit risk.

Banks to lose billions on CHF conversion
The Polish Financial Supervision Authority believes that the annual cost for banks in this respect may amount to approximately PLN 1 billion. And in the next 25 years, it may reach approximately PLN 25 billion. So the negative effect of currency conversion may be spread over time. And the amount of PLN 1 billion per year is not astronomical for banks. It means approximately seven percent of their annual result in Poland.
Jakubiak believes that not only banks but also borrowers are responsible for the current situation. So both parties should jointly bear the costs of the undertaking. On the basis of dividing the loan into a part secured by a mortgage and an unsecured part.