Pietraszkiewicz the talks told reporters Friday that the proposal of the President of the KNF Andrzej Jakubiak provides for the sharing of costs of conversion loans in CHF for gold between banks and their customers. “We did not talk about whether one agrees or disagrees someone, but we talked about the fact that any proposal requires the conversion, check from the regulation, not only Polish law, but also international accounting standards. We will analyze it all, we will present a number of economic and legal analysis, and discussions will continue “- Pietraszkiewicz reported.
” We agreed that the next meeting will be held, and Mr. Chairman soon he so call “- he added. He noted that the discussions on this topic have only begun, and the “proposal will be studied and analyzed, and in the following days, the conversation will continue.”
Pietraszkiewicz also said that during the meeting the banks have informed the FSA for the implementation of the findings of the deliberations recommended Financial Stability Committee and the package of measures recommended by the PBA. “There were also discussed issues on the financial market, because remember that we were dealing with a single sudden jump (franc – PAP), and now the stabilization of the situation on the market” – he said.
According to the banks’ actions demonstrate Pietraszkiewicz that they care about the stability of the entire financial system, and when there is a sharp issue of a group of customers – support them and the problem is solved. According to the head of the PBA no one responsible does not submit at this stage, the declaration that the banks will accept a proposal Jakubiak and will assume some of the costs of its implementation without counting its consequences, the examination of the legal side. “Each bank’s management is accountable to all customers, depositors, including shareholders – many of whom are our pensioners – for the stability and safety of all participants. The Bank is in fact such a special agreement connecting a large number of stakeholders” – he said.
KNF Office announced in a notice published after the meeting that he discussed the problems and risks associated with the portfolio of foreign currency loans.
“In particular, discussed: the approach of banks to the recommendations of the Financial Stability Committee (KSF) regarding the inclusion of negative rates of LIBOR in settlements with customers for credit agreements in CHF; use of restructuring solutions tailored to individual needs and abilities of each client and their adaptation to market conditions, current activities of banks in terms of the need to maintain contact with customers FX mortgages, especially those who have difficulty with their payments, the current problems with the portfolio of loans in CHF and action plans of banks in the event of further depreciation of the PLN vs. the CHF and / or a significant deterioration in the quality of housing loan portfolio, “- said in a statement.
added that during meeting discussed a proposal by the Chairman of KNF dot. restructure loans extended in Swiss francs, presented at a meeting of the parliamentary commission of public finances on February 3 this year.
“The meeting participants agreed on the need to conduct additional analyzes and calculations to assess the feasibility of restructuring of loans granted in CHF. Date of the next meeting was set for 13 February. “- Stated.
The PFSA said that regardless of the meeting will be organized with the statutory auditors auditing the financial statements of banks, for the conversion of proposals presented by the head of the Financial Supervision Authority.
Jakubiak presented Tuesday in Parliament proposals concerning. possible to convert CHF mortgage loans in PLN. He estimated that the potential loss of the sector could reach 25 billion zł, which would be shared 20-25 years, and the annual cost for the banks would 1-1.2 billion zł, ie approx. 7 per cent. of their annual profit. According to this concept of conversion costs for both parties should not result in a one-off negative effect, and the sum should be spread over time.
According to the proposal Jakubiak existing loan would be converted to buck the current exchange rate and divided into two parts: a loan secured by mortgages in PLN and unsecured mortgage-which reflect the weakening of the zloty has consequences. State debt under a mortgage loan is the answer that would have granted a loan of gold at the same time as the franc. The value of mortgage unsecured loan equivalent to the difference between the total debt stock on the date of conversion and the state debt under a mortgage loan. Unsecured mortgage-half would be paid by the borrower, and half canceled. Jakubiak said that for the situation arising in connection with loans in Swiss francs correspond to both banks and borrowers, so both should assume the cost of solving this problem.
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