The team met on Tuesday at the last meeting; established the “almost final shape” of proposals to be presented by the Office of the President.
The project assumes that “should implement the legal tools requiring the recovery of overpayments by borrowers under the” spread “(ie. The difference between buying and selling rates currency – PAP). This provision would apply to all borrowers.
Besides, there would be alternatives to be chosen by the borrower.
Four variants of “fair rate”
The first option would be based on the concept of “fair exchange” with the previous January’s presidential draft law. – At the same time as one of the criteria of differentiation rate could be applied to the borrower’s DTI (debt owed in relation to income) – indicated in the Communication from the work of the team at the Office of the President.
In January, when presenting the draft presidential minister Maciej Łopiński explained that the course “fair” is to be calculated individually for each borrower by a special calculator, contains a specific algorithm. Provisions of the draft – he explained – are to include those who have taken foreign currency loans for their own needs and would include using credit in business.
Prof. Jaroslaw Mielcarek said that the current proposals contained at least four variants of “fair rate”. – Firstly, the initial, which is presented in the calculator credit firm – said. The second variant is a modified version of the first – with the calculation assumes a first payment of interest, then the capital – in contrast to the basic concept.
– Thirdly, the course just a result of the theory of course fair, which was specially written for these needs, when I penetrated the issue of fair exchange. And the fourth type of course you can not call a course righteous, just equilibrium exchange rate resulting from the hypothesis of interest rates. I also support the idea of a fourth – we can say – the term of the loan equivalent, ie the loan, which would be converted under the terms of the prices at the time the loan. I will most likely be chosen such that the approach to this issue – of course it is not a foregone conclusion – it is the borrower, with the disposal of these four options, he decides which type of settlement is best for them – the professor said.
Conversion at the current exchange rate
As an alternative to the use of “exchange fair” team proposes to convert the outstanding loan amount typical for the lender credit “in PLN” (niedenominowany, non-indexed or niewaloryzowany in foreign currency), including the return of part of excess capital loan – stated in a press release.
One of the panelists, Dr. Marek Dietl told PAP that this second option can be reduced eg. Conversion to the current exchange rate and the recovery of the loan would be different if it was from the beginning of the credit złotówkowym.
Refund apartment
In addition, as a third option, “should be possible return of the apartment being mortgaged, causing the total extinction of the debt obligation, one should not exclude the application of this solution, taking into account the criterion of LtV” (eg. When the value of the loan exceeds the value apartment – PAP).
According to a “return of overpaid amounts to the borrowers should be in the form of debt relief or staggering the dates specified by the parties.”
In turn, part of the restructuring, according to one of the two alternative options (course “fair” or simple resignation from a denomination of the loan in foreign currency), “should come to conclude a new credit agreement for a period agreed by the parties, without longer and not shorter than regulated in the law. “
The authors of the project decided also that ‘the side of borrowers and lenders should not give rise to additional financial commitments. “
year to make a decision
The borrower will have a year to take decisions on. FX loan – said prof. Witold Modzelewski, a member of the team that worked on the project so. Act francs. – During this time, let the borrower will examine all options – he stressed. As
said Modzelewski, a bill concerning. foreign currency loans will cover loans granted from 1 January 2000. ie “from the moment when they occurred in our market”, eg. to 31 December 2015. – You have to present solutions that will be a choice for the person concerned and he is the ultimate judge, and he will create one package that can be used given the case – said Modzelewski.
He added that the project provides for an obligation that every bank that has granted such loans, in a relatively very short period is expected to present all potential borrowers detailed information. – So just to clarify, what is law and what are the rights of the entity, which is to be instructed – pointed.
Modzelewski added that a team of experts provides for a Regulation laying down the model application, which the borrower would be submitted to the bank. He argued also that the proposal provides security for both borrowers and lenders.
Modzelewski said that the project defines the method of solving the five important issues related to the problem frankowiczów.
– First, the problem of the so-called return. spreads, or the amounts that have been taken by the banks in connection with the sale of foreign currency borrowers. Secondly, it is the so-called odwalutowanie – he said. He added that the third element of the solution is the period when the loans were repaid. – Here we turn to several roads, including inspired by the very important experience and project proposal Chancellery (President – PAP) on fair exchange – pointed.
– Fourth, this is a problem return the premises, which was the subject collateral and termination liability in this respect. Fifthly, we must solve the problem of the effects of a balance sheet, accounting, economic use of methods of restructuring – said.
He added that in the latter case the proposed special solutions, which were partly modeled on what was in the draft presidential, but also took into account the “different experience”. – The bottom line is that the law provides security for both borrowers and lenders and the final closing of this dispute, which unfortunately is still – Modzelewski said.
Kuczynski: the law does not allow putting the apartment with the simultaneous expiration of credit
The law does not allow for putting the apartment mortgaged with simultaneous expiry of the loan and the amount of 30 billion zł losses the bank is taken from the air – so Xelion principal analyst Piotr Kuczynski says proposals group President’s Office ws. Frankowych loans.
During Tuesday’s conference, a team of experts Office of the President recommended solution ws. so. Act francs.
One of the concepts will be possible to return the apartment being mortgaged and consequently complete the expiry of the loan. According to Kuczynski such a solution in conflict with the law and is unconstitutional.
– Personally, I am for this solution, but for the future. Unfortunately, the law can not be retroactive. It is unconstitutional, the law – he said. According to him, in this case, banks will be able to pursue their claims in international bodies.
One of the important issues presented by an expert team president is the timing of bank losses. According to the analyst, this issue has not been fully explained. Kuczynski said that with his knowledge shows that international accounting standards prevent the spread of such loads over time.
– It seems that the president has a team of experts project almost ready, but not much you can say about him – he added.
– The creators of this plan further digging in to positions occupied during the first presentation. To say that it will cost 30 billion zlotys is frivolous, because at this point no one knows what will be the cost – pointed.
The analyst referred to the words of prof. Witold Modzelewski, who said that the amount of bank charges previously reported by the Financial Supervision Authority – 60 billion zł, was based only on surveys. – Presented by experts from the President of the amount of losses of 30 billion zł is the sum taken completely out of the air. I do not really know how much the project will cost – ended Kuczynski.
Pawlicki of proposals: too complicated
Too complicated, confusing and unclear legally, ethically and economically – as presented on Tuesday by a team of experts of the Chancellery of the President of recommendations ws. Act dot. Frankowiczów rated Maciej Pawlicki from the Association of Banking Stop lawlessness.
– Already the January proposal was complicated, but it is even more complicated. Why can not we accept what we all want and what, announced yesterday spokesman Finance? I look for real solutions where the need is greatest, or how to spread out the accounting is what the banks have planned themselves as profit – said the PAP Pawlicki
PAP, abo
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