On one collective lawsuit dot. Frankowych loans may not finish. In two weeks we will find out whether a lawsuit filed by more than 90 customers Getin Noble Bank meets the conditions for a class action lawsuit. Photo: Depositphotos
We all want to help frankowiczom. KNF intervenes, the OCCP, the finance minister, the president, prime minister, as well as Deputy Prime Minister. The package of amendments presented by Janusz Piechocinski found, inter alia, proposal to reduce exchange rate volatility. In the case of an abrupt increase in the exchange rate would have to pay for the banks. The second proposal concerns the long-term security of newly contracted loans.
It’s been two weeks since the sharp rise of the Swiss franc and an equally sharp rise in the burden of holders of loans in this currency. What is the reaction of the banking sector to these changes?
– In this situation, the bankers gathered various solutions or formally functioning in business credit, but used occasionally, or have used, but a proposal to extend their customer friendliness. This is shown in the form of an appeal to the banks. Polish Bank Association does not manage because the banking sector, but represents it both ways, ie both on the outside and pass to a uniform signal sector of widely understood market. And from clients, and the public. A list of six actions proposed by the Association was formulated in this spirit, and will be presented Jan. 29 – explains the guest of Radio Ones Dr. Mieczyslaw Bean, vice president of the PBA.
Frankowicz in the spotlight
All the press: the OCCP, KNF, Minister of Finance, Deputy Prime Minister and Prime Minister, and the President.
– I would not say that the press. Rather appealing, and not only to the banking sector. Currently, the main line of the search for solutions takes into account the interests of both parties. You could of course imagine a very radical solutions, formulated under the slogan “Give what you have earned,” which could destabilize the banking system. But such moods, fortunately, no – said Dr Bean.
However, as the finance minister says “we will encourage banks to pro-consumer actions, [...] and together with UOKiK will be accounted for, look, which is implemented in the life . “
– This is very consistent with what the Polish Banks Association proposes, and what the banks will accept. Some solutions reported by banks even go much further. In contrast, a settlement is needed, as in individual cases can happen violation of legal norms – selects a radio guest Ones.
Everyone has their own recipe
It is difficult to uniform line of action. Various institutions, not just financial, present their ideas and proposals for solving the problem loans in francs.
Deputy Piechociński proposed recommendations towards banks: Integrating the banks of the negative LIBOR; withdrawal from the extra security due to changes in exchange rates allow interested parties to borrowers commission-free conversion of the loan amount of the franc on the zloty at the average NBP exchange rate on the date of conversion without additional commissions or three-year credit vacation.
– That’s three different instruments. As for the negative LIBOR, that there is no arithmetic legal and economic uniqueness. In a situation when the rate exceeds the margin, this might be the case that the total interest rate would be negative. So the arithmetic is logical, but it is no longer economically – says vice-president of the PBA.
On the other hand, if the total sum of the activities within the framework of the above-mentioned “six-pack” will be realized, and the banks give up their part of the revenues, including spreadowych, rather they will make to this operation, and not earn. – And therein lies the realization that appeal to share costs and risks – added Dr Bean. As for the direction, the main concerns stabilization situation. The banks are already doing, primarily under the banner of maintaining the amount of installment, which was paid by a sharp rise in the franc.
The surge installment of a myth
calculates one of the big retail banks, 70 percent. its customers will be in February installment is lower than in December. Because the Swiss franc free now 4.30 and 4.12 zł, interest rates fell by 0.5 percentage points, so this installment is basically at the same level.
– It happened as a result of two action. The first is the fact that the bank clearly said it will apply a negative interest rate LIBOR, and the “minus” is still growing (depreciation rate of growth is very important). Secondly fell course and anxiety about the installment was then, when the exchange rate temporarily broke even 5 zł. But it was only for a very short period – explains radio guest Ones.
The trouble OCCP
Credit francs over 500 thous., And if someone would have a problem with it, you can write to the Office of Competition and Consumer Protection.
– box frank@uokik.gov.pl, designed to direct complaints to the Office, the transmission of information conducted by the OCCP investigation was created 23 January and has already received over 500 complaints, a daily flows above 100. The complaints relate both to disregard the negative LIBOR, as well as additional security and the related concerns and abusive contractual clauses in loan agreements. And it is evenly distributed – explained on the radio Ones Paul Ratyński of the Office of Competition and Consumer Protection.
Important “three steps”
The Office conducts an investigation concerning the provision by banks of mortgage loans in Swiss francs. However, the unit does not respond to the complaint and there is no bank on behalf of the consumer. On the other hand prosecutes ws. Possible violation of the collective interests of consumers and the decision of the OCCP may be helpful to consumers in the investigation of their rights, eg. In court, as it was at polisolokatach.
Paul Ratyński of the Office of Competition and Consumer Protection reminds Also about three steps that must be done if we want to get help.
So the fact that:
- Contact your bank, talk, negotiate the terms of restructuring the loan. Carefully examine the proposal that will be submitted to us. Before signing consult eg. With lawyers, available by calling the helpline consumer;
- For information about LIBORU. Whether the bank will take into account when determining the negative interest rate; or he will request additional security. According to the OCCP, the bank should take into account the negative LIBOR, and should not require additional protection;
- You can notify the OCCP.
A lot of unknowns
It is good that at all is said about the problems frankowiczów, about loans. And above all, about the relationship with the banks. Indeed reminded financial institutions that but anyone watching them.
In addition, not all banks have complied with the findings made by the Financial Stability Committee, but not all banks were invited there. That is why it is good that the government is interested in the problem frankowiczów.
– But for now we only know the password – says a guest of the Polish Radio 24 Shortcuts, an analyst DK Notus. – Not everything is clear. It was such. Spoken that banks will not be waiting and implement additional security. And how they will enforce the current security? Most borrowers with a loan at 100 percent. or with a small own contribution – low downpayment insurance must pay, and is renewed every 3-5 years, depending on the bank. And in a situation like today if, in this high exchange rate would have to renew this insurance, it can us it is very costly – explains Shortcuts.
Therefore, there are still doubts about how to understand that banks will not require additional security. At all? Do more than those that already exist? More similar questions.
Will there be a long-term solution …
On Thursday, January 29 Polish Bank Association will present its six proposals to solve the problems repayment of loans in Swiss francs . If they are accepted by banks, probably will organize some confusion arose after the sharp appreciation of the Swiss currency.
What should, inter alia, change according to the PBA – a construction loan agreement. Also in the proposal of the Ministry of Economy is to fragment about going for new mortgages size of the claims of the creditor (the bank) does not exceed the value of the property.
– Today, this does not apply, because existing contracts were constructed differently. Banks will probably have to then change their approach to risk and return, and perhaps pick up a share of its own – predicts Dr. Bean.
… and how to reduce the current installment
You can pay directly in francs, and the best to buy them in the E-counter or in another bank than the one in which we have a loan.
Or you can lengthen the repayment period, but you must use this with caution, because However, the longer paying off the loan, the cost is higher. However, we then have installment lower, and thus regain liquidity.
Christopher Rzyman, Justin knuckle, Margaret Byrska
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