2015-01-23 15:54 Author: (PAP) (red.AF) Christopher Pietraszkiewicz, president of the PBA [Photo: PAP / Radek Parsley] 
Polish Bank Association, in conjunction with an increase in CHF, offers banks to take into account negative Libor rates on CHF, reducing spreads, extending the repayment period and allowing the currency exchange commission-free loan of CHF to PLN at a rate equal to the average rate of the National Bank of Poland.
Update 19:25
the PBA announced that introduced banks proposals for measures to limit the effects of the abrupt increase in borrowers CHF.
– We offer a package of measures which will substantially reduce the impact of the growth of the CHF – said Krzysztof Pietraszkiewicz conference, President the PBA.
President also said that the proposal should lead to offset the effects of the growth of the franc in respect of mortgage loans.
– We have proposed that banks take into account the negative CHF LIBOR rate for the calculation of interest on housing loans and a significant decrease in the next 6 months, the spread rate, which should lead to a reduction in customer paid by credit installments – Pietraszkiewicz said during the conference. It’s about a reduction in the spread, so that the loan installment was not higher than that before the decision of the Swiss.
Vice-President of the PBA George noted, however Bubble that taking into account the negative LIBOR banks does not mean that they will be dopłacały franc loans. It is not possible to credit was free – stressed the bubble.
the PBA also offers banks to give up with the demands of the new security and insurance of loans to borrowers timely repaying loan installments.
Another suggestion the PBA is to allow borrowers commission-free currency conversion loans in Swiss francs on penny at a rate equal to the average rate of the Polish National Bank.
the PBA also suggests the possibility of extending the or the repayment period of temporary suspension of repayment of principal installment, ie. Credit holidays. These requests may be submitted only by people who live in property loans.
The last suggestion is the PBA more flexible rules for restructuring the mortgage loans for customers living in the property.
In our opinion, these proposals will largely offset the effects of the surge in borrowers franc – rated Krzysztof Pietraszkiewicz the PBA president.
Representatives of the PBA did not hide their satisfaction and stressed that some banks have announced the implementation of some recommendations.
As said Krzysztof Pietraszkiewicz at the conference, the board will request connection to the Ministry of Finance on the exemption from the tax burden on people who have credit in francs in connection with restructuring actions taken.
According to earlier reports, the Minister of Finance informed the meeting of the KSF, declared that all banks taken into account when calculating the loan installments negative LIBOR rates for CHF. Some banks have already informed about plans for the use of negative LIBOR.
The use of low predicted spread among PKO BP (1 per cent will apply. Spread), Getin Noble Bank (reduce it by more than half to 2.5 percent.). ING has decided that it will apply for settlement payments NBP average rate.
Last week, SNB, unexpectedly announcing that it releases the rate of its currency, caused panic in the market. Investors did not calm even that to sweeten the interest rate decreased to -0.75 percent. So far, the SNB maintained a fixed exchange rate, which meant that the euro could cost less than 1.20 franc. The decision made, and the Swiss currency has gained much in value, including against the zloty. Last Thursday for the franc had to pay a record 5.19 zł, but the day before it was paid for 3,57 zł.
So a significant increase in trading franc is a problem for approx. 550 thousand. Polish indebted borrowers in that currency, it means an increase in payments.
On Tuesday, in this case met the Financial Stability Committee (KSF). The meeting, in addition to the Minister of Finance, President of the NBP, the chairman of the Financial Supervision Commission and the President of the Bank Guarantee Fund, was also attended by representatives of the banks, which have in the portfolio of a number of foreign currency loans. Bankers have declared that they will take into account the negative franc LIBOR, and some of them announced that it will reduce the foreign exchange spreads.
After the meeting KSF Mateusz Szczurek finance minister said that his ministry is considering introducing favorable tax solutions for borrowers which banks umorzyłyby part of the debt. The idea is that such redemption is not born of having to pay tax – as is currently the case.
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