Presidential bill francs harmless for the economy – Virtual Poland

No 40 billion zł and a maximum of 4 billion zł – the costs to be incurred by banks in connection with the return of overpaid spreads for borrowers. In turn, forced conversion to the event will not be as much like the financial markets. As a result, gold is gaining strongly in value.

Even in the early morning dollar exchange rate amounted to 3.90 zł, the euro cost 4.36 zł, and the Swiss franc was at 4.03 zł. In the afternoon, all quotations were already about 4-5 cents lower. All the announced content presidential draft law on support frankowiczom (but not only them, because the new rules apply to all loans in foreign currencies).

Customers primarily spreads will be reimbursed plus interest in the amount of half of the statutory rate. This concern has loans whose initial capital attributable to one borrower does not exceed 350 thousand. zł. At the far end restrictions on banks. The costs of the whole process are estimated by the Office of the President at 3,6-4 billion zł, which is significantly less than speculation, of course taking into account the conversion.
 

For the year to be postponed the issue of conversion loans. This problem has to be settled in the way of voluntary settlements between the bank and the borrower, what have forced the recommendations made by the Financial Supervision Commission.

With the presentation of the bill have been repeatedly repeated slogans about the need for a gradual and controlled solve the problem without prejudice to the stability of the banking sector. It is perhaps at this point, even the most important for investors who are eagerly exchanging euro, dollars and francs at gold.

This is not a favorable situation observed for over a month, that is, since the announcement of the outcome of the referendum in the UK. As emphasized by the Office of the President, was among other things a negative impact Brexitu or explosion hazard banking crisis in Europe contributed to the strong mitigating approach the President to help frankowiczom.

The most powerful downward movement among the three major currencies can be seen in the case of the franc. Speaking out on the issue of the bill NBP president Adam Glapiński stressed that currently the gold is strongly undervalued and overvalued franc in turn. It expects the fall in prices pair CHF / PLN, which from the beginning of the year vary in the range of 3,90-4,10 zł.