67 billion zlotys. Such a burden for the Polish banking sector according to the most likely scenario would be a Presidential Assistance Act frankowiczom – according to published Tuesday the analysis of the Financial Supervision Commission. KNF warns that 6 large banks could have problems with solvency, and the gold would be falling short. In an extreme scenario, Poland threatens the financial crisis.
“Load banks following the restructuring of loans and credits included in the bill depending on the variant and scenario creates a high cost for the banks,” – says the document. KNF adopted four scenarios under which the costs of restructuring the loan amount from 44.6 to 66.9 billion zł. The most probable variant adopted the highest of those amounts.
KNF examine the draft presidential
The published study is a response to questions that KNF’s attention on January 15 sent the Office of the President, after the presentation of the bill francs. Andrzej Duda asked to assess the financial implications of the Act for the Polish banking sector.
According to the KNF, banks are not the presidential bill loaded symmetrically. “There is a group of banks for which the loss of own funds is essential and levels of own funds, made restructuring loans are significantly lower than the levels required regulacyjnie” – warns the Commission.
What’s more, KNF estimates that accepted by the authors of the project Law concept leads to a strong preference of some borrowers. As noted in the document, the main beneficiaries of the benefits of restructuring are those customers who took out loans in CHF in 2007-2008, and the largest costs were borne by those banks that are actively grant loans in the Swiss currency and the banks that bought other banks with large portfolios of foreign currency housing loans.
the president is responsible
Office of the President declares that he will talk about the calculations of the Financial Supervision Commission on frankowiczów. According to estimates by the Financial Supervision Authority, the proposed law would cost the banks up 67 billion.
As noted in the statement published on the website of the President, the law firm “recognizes the Commission’s calculation as a basis for further discussions about the final shape of the regulation.” It is claimed that “the priority is to help borrowers, while maintaining the financial stability of the state and the banking sector.” Currently, the office examines in detail the opinion of the Financial Supervision Authority – added.
Frankowicz and so they know their
Attract- ing frankowiczów association Stop Banking lawlessness, without waiting for the publication of the analysis of KNF-u , organized on Monday a press conference at which said it would be a “divination with glass globe and tea leaves.”
SBB has consistently accused the Financial Supervision Commission for improper fulfillment of their duties and the preference of banks in a dispute with borrowers. – The question is why the state and supervisor, which is the KNF, do not care about it, that the relationship between banks and citizens were equivalent and mutually beneficial – wonders Michael Zenk with SBB. – It can not be that the Financial Supervision Authority, which should supervise banks is their supporter and lobbyist – says in an interview with money.pl.
The allegation of lack of reliability presented by the KNF data appears in the words of Thomas Sadlik association Fro Futuris. In aired Tuesday morning statement, even before the publication of the analysis of the Financial Supervision Authority, the representative frankowiczów notes that the social costs of selling by banks of foreign currency financial products “in many outweigh any ever given by the KNF sum.”
– The time is working in favor of banks and officials – says Michal Zenk. – The longer it takes everything in abeyance, the worse the situation is most strongly endangered frankowiczów who go bankrupt and lose their properties, because they still work in their case the bank enforcement title last year – draws attention to a representative of the SBB. – For many people it will be too late: will be economically crushed and fall out of the dispute. Dragging dispute is a method of fighting with us – says Zenk.
KNF be cut off
– Financial Supervision Authority is not involved in this type of dispute – is responsible Commission spokesman, asked about the reference to allegations frankowiczów. Commenting on the issue only delay the publication of the analysis of the costs of the Act francs. – The bill is quite complex and the calculation of costs in all of the included variants take time – explains Maciej Krzysztoszek. – Some of the data needed for the analysis, we had to obtain directly from banks through additional surveys. Only full data were the basis for carrying out accurate calculations – notes.
The Polish Bank Association did not respond to a request for comment money.pl.
What’s next project
Bloomberg quoted in mid-February, Deputy Prime Minister Matthew Morawiecki that he expects from the Ministry of Finance propose a “revised” version of the draft law on foreign currency loans. A day later he was asked Morawiecki RMF FM that the proposal the president is a threat to the Polish banking system said that if true are the first calculation of the cost of conversion, yes. – This project presidential if passed, if true are the primary calculation, with whom we are dealing, or 40 billion loss would be a big threat for the sector – pointed.
In a report published by the NBP on the stability of the financial system, the central bank calculated that the direct cost of returning the spreads and foreign exchange translation of capital of all loans at the so-called. “Righteous foreign currency exchange rates” adopted in the presidential draft law on the restructuring of foreign currency loans may reach 44 billion zł (NBP founded a single shot as a result of the financial losses resulting from the conversion of credit portfolio). NBP said that taking into account respect of restructuring costs, about 70 percent. the banking sector can note the loss.
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