franc borrowers in debt can no longer check the website of the antitrust authority (www.uokik.gov.pl), among others, whether their bank takes into account the negative interest rate for the Swiss franc LIBOR, what are the differences in the rate of the franc in individual banks or that facilitate the repayment of the loans offered by other banks.
OCCP said in a statement that said financial institutions about their practices related to the growth of the Swiss franc. “President of the Office to better monitor the practices of financial institutions, called on banks to transfer 27 weekly information on mortgage contracts denominated in Swiss francs (CHF). (…) The presented data are regularly updated based on new information provided by the banks, “- said the OCCP.
OCCP stipulated that the statement does not include banks, which in the portfolio are a small number of mortgage loans in Swiss francs, ie. Cooperative Bank in Gliwice, DZ Bank, SGB Bank, Cooperative Development Bank and the Development Bank of Warmia. In addition, the report ignores the individual exceptions to this policy for individual customers.
The data presented in the statement of concern state during the period from 2 to 6 February 2015. They show that only BNP Paribas did not apply at the time of the negative at an interest rate of LIBOR loans. Credit Agricole applied this rate under certain conditions, and PKO BP and Raiffeisen did not include negative LIBOR in the case of some loans. Of the 22 included in the statement of banks, 7 banks have decided to take into account the negative interest rate.
According to the OCCP, 21 banks are included in the statement offered the possibility of suspending repayment of the loan, the same offered the possibility of extending the loan term. The ability to convert the loan to gold at a rate lower than the rate of sales, followed by periodic settled claims related to the servicing of loans, offered 17 banks. The possibility of other facilities in the repayment of loans has informed its customers 21 banks (table provides brief information about these facilities).
16 banks declared that borrowers informed of the measures taken to facilitate the repayment of loans.
OCCP also collected data on the average exchange franc sales in a given week, together with data on the percentage deviation from this course compared the average for all banks. The most expensive Swiss currency at that time offered Alior Bank, where 4.1172 franc cost zł, an increase of 2 percent. more expensive than the average for all banks. Cheapest franc was at ING Bank Slaski – cost zł 3.9569, or 1.97 percent. less than the average for all banks.
Antitrust Authority has also published tables of bid and offer franc, the which in the period of the study were accounted for claims related to the handling of loans in that currency.
At the beginning of February . Mateusz Szczurek finance minister and head of the OCCP Adam Jasser announced that the emergence of ranking banks dealing frankowiczów best. The basis for its creation will be monitoring how banks fulfill their promises to the people who have loans in Swiss francs.
In mid-January, the Financial Stability Committee (KSF) obliged the banks to, among others, respect negative LIBOR spreads reduced rates, and the Polish Bank Association confirmed the willingness of banks to act in the interests of borrowers affected by the rapid appreciation of the franc. Rat explained that the Ministry of Finance, together with the OCCP will verify to what extent these findings, as well as bank statements, are respected. He noted that under the KSF will also be carried out monitoring the stability of the financial sector.
Head of the OCCP Adam Jasser said, that the office will be every week asking banks to reported on in a formalized manner, the information on credit agreements denominated in Swiss francs. Banks are to provide information about the amount of bid and offer; whether negative include LIBOR base rate; or take into account the negative rate of the total cost of credit; whether borrowers have a suspension of repayment of loans; or allow customers to extension of credit, or allow you to translate the loan at a rate lower than that indicated in the table of the bank exchange rate. Announced that the statement is to be published on the website of the OCCP-in and the Ministry of Finance.
In mid-January Swiss National Bank (SNB) unexpectedly announcing that it releases the rate of its currency, caused panic in the market. Previously, the SNB maintained pegged, which meant that the euro could cost less than 1.20 franc. The SNB’s decision meant that the franc appreciated strongly, including against the zloty. As a result, on January 15 for the franc had to pay up to 5.19 zł, but the day before he paid for 3.57 zł. Then franc fell, however, and so it costs a lot more than before the SNB decision, and it is a problem for approx. 550 thousand. Polish indebted borrowers in that currency.
The following statement made on the basis of the OCCP concerning information about loans granted in francs:
| Averaged | Use | Taking into account | |
| CHF selling rate | negative LIBOR | oprocent negative. | |
| | |||
| 4.1172 | YES | YES | Alior Bank |
| 4.0199 | YES | NO | � � Bank BPH |
| 3.98 | YES | YES | Commercial bank |
| 4.0202 | YES | NO | � � Bank Millennium |
| 4.1057 | YES | YES | BOS |
| 4.0914 | YES | NO | � � Bank Pekao |
| 3.9922 | YES | YES * | BZ WBK |
| 4.0006 | NO | NO | BNP Paribas |
| 4.0036 | YES | YES | BGZ |
| 4.0569 | YES | NO | � � Getin Noble |
| 3.9569 | YES | NO | � � ING BSK |
| 4.0211 | YES | NO | � � mBank |
| 3.9735 | YES / NO ** | NO | � � PKO BP |
| 3.9791 | YES | NO | � � Credit Agricole |
| 4.0474 | YES | YES | Euro Bank |
| 4.0217 | YES | YES | Deutsche Bank |
| 4.0519 | YES | NO | � � Santander CB |
| 4.0757 | YES / NO *** | NO | Raiffeisen |
* bank does not take account of negative interest rates, calculating the amount of current installments, but the interest is accrued and negative, they will reduce future claims.
** does not include bank negative LIBOR with respect to the acquired loans granted by the former Nordea Bank and former LG Petro Bank.
* ** For some loans the bank does not take into account the negative LIBOR.
Statement has been prepared on the basis of information obtained OCCP from banks. The Office reported that the information does not cover the declared intentions of the banks.
Some banks have announced plans to take into account the negative rate of LIBOR and a negative charge, which will be realized after the introduction of appropriate technical solutions.
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