President Andrzej Duda after being sworn in to submit a draft of the so-called “frankowiczów”. In addition, the club will submit corresponding PiS after the autumn elections – announced Law and Justice deputy, Vice President and candidate for Prime Minister of Law and Justice.
Szydło stressed that currently there are three proposals, experts are working on: Andrzej Duda proposal presidential campaign, offering environments, bringing together people injured by banks and Justice Act projects submitted in the parliament, but rejected in the vote.
– You have now of these three prepare the one that will be consensus that come out on against frankowiczom – Awl said at a press conference. – We are ready. Immediately after the elections we make our project. In contrast, earlier this president is Andrew Duda. I hope it will be adopted. I look forward also to react Prime Minister Ewa Kopacz. I remember that the Civic Platform promised that the problem will solve frankowiczów – she added.
She emphasized that there can be no disequilibrium in the banking system in Poland. – It’s not that the banking system will collapse. Perhaps the bankers will have smaller profits than you assume. This problem arose from the fact that people who took out loans in francs did not have a clear, fair and reliable information that might befall them things and now you have the responsibility to share. They have to take it on themselves mainly to banks – said Awl.
After that, when you do not come to an agreement with its creditors to Greece and the Greek government announced on 5 July referendum on. Agreement with creditors and urged Greeks to voted against the proposals of the European Commission, the European Central Bank (ECB) and International Monetary Fund (IMF), the euro weakened against the dollar and the Swiss franc, which could translate into installments of loans taken out in these currencies.
Problem loans mortgage in Swiss francs came after a sharp appreciation of the Swiss franc on January 15, when the Swiss central bank (SNB) announced the release of its currency exchange rate against the euro.
As a result, interest rates on loans frankowych significantly increased and some of the loans began to exceed the value of the property for which they were incurred (ie. LtV ratio above 100 percent.).
February 3 KNF head Andrzej Jakubiak presented a proposal to solve the problem at a meeting of the parliamentary committee.
He proposed that the existing loan francs could be converted to buck the current exchange rate and divided into two parts: a loan secured by mortgage in PLN and unsecured loan with mortgage, which reflect the weakening of the zloty has consequences.
Status debt under a mortgage loan is the answer which would have granted a loan of gold at the same time as a loan in francs.
The unsecured loan with mortgage correspond to the difference between the total debt stock on the date of conversion, and the state debt under a mortgage loan. Unsecured loan with mortgage would be repaid by the borrower half (with an interest rate of 1 per cent.), And half canceled.
Bankers have their proposals to solve the problem franc
This idea, however, did not like the banking environment that March 11, when the Banking Forum, presented its own proposal. Bankers reported three ideas for frankowiczów.
The first is to create a fund to support the restructuring of mortgage loans. It would be addressed to all customers who have problems with repayment of loans – or PLN, or currency. With the fund could benefit people who have lost their jobs, are affected or have been victims of a natural disaster. It was a reference to the idea of President Komorowski of 5 February.
A second solution would involve introducing the possibility of converting the mortgage collateral for other adequate protection , of course, at the request of the borrower.
The third concept is the creation of another fund – the so-called. sectoral stabilization fund. It would be addressed to the holders of loans in Swiss francs, and its aim would be to stabilize the amount of the loan installments – would be able to benefit from it, if the franc has risen sharply and at the same time would increase loan installment.
However, the use of the fund would impose an obligation of the borrower that przewalutuje your credit for a buck at a time when the franc falls to the previously declared level. The borrower would have to indicate at which the franc exchange rate would effectively be conversion. Of course – as said the president of the Polish Banks Association Krzysztof Pietraszkiewicz – there could be a “ridiculously low exchange rate”. This concept did not like to turn the head of the Financial Supervision Authority. Andrzej Jakubiak said that waiting for another proposal banks on this issue. Banks have presented it in late May, as reported here.
The latest proposal for frankowiczów
Under this proposal, banks have decided to co-finance among other things, proposed by the representatives of the Fund Support for Restructuring Mortgage Loans. Declared provisioning of the Fund in the total amount of 125 million zł.
Decided also about creating internal bank stabilization funds intended exclusively for borrowers with a loan in Swiss francs. Announced destiny for a solution together from 300 to 600 million zł. Within these funds, a system of subsidies would be available after exceeding a certain threshold level course Swiss currency. This level will determine the banks themselves.
President of the Polish Banks Association Krzysztof Pietraszkiewicz reported that in 10 years the total payments due to banks, stabilization funds may amount to 3.5 billion zł. According to a declaration signed by the banks surcharge to credit in Swiss francs will be implemented when the Swiss franc exceeds 5 zł, and the same amount of aid does not exceed 33 gr to 1 Swiss franc.
The Polish Bank Association in consultation with the Banks also suggests an extension of the previous aid package for frankowiczów, the so-called six-pack. It provided, inter alia, take into account the negative LIBOR for the Swiss franc, reducing the spread rate before six months, extending the repayment period of the loan, any currency conversion at the average rate of NBP (of conversion, not take credit) and more flexible rules for restructuring the mortgage loans. The proposals would remain in force until the end of 2015.
As explained Pietraszkiewicz, set up a “szcześciopaku” allowed the credit installment frankowiczów was equal to or only slightly higher than before Jan. 15, when the Swiss National Bank decided to finish the course defense franc.
The introduction of these solutions has agreed to 10 banks – tells the PBA. MBank, PKO BP, BZ WBK, Raiffeisen, Getin Noble Bank, Santander, Deutsche Bank, Bank BPH, Millennium and BGZ.
Andrzej Duda during the presidential campaign declared that considers it necessary to przewalutować franc loans , so that they are repaid at the rate of their borrowing. President of the Association of Polish Banks responded well when presenting proposals to the idea of president-elect Andrew Duda.
– Foreign currency loans in francs at the rate of borrowing sounds good only in the campaign. According to our calculations, it would cost more than 30 billion zlotys – said Pietraszkiewicz. President of the Union of Polish Banks reserved, however, that without the co-operation of power from the banks, there will be an effective solution to the problem of foreign currency loans in Poland.
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