the Financial Supervision Commission obliczyła the cost of the presidential law. Banks will have to give frankowiczom 9.3 billion rubles because of the extremely high spreads currency. It’s about the same as zarobiły on too high difference rate from the mortgage currency loans.
office of the President submitted to the Seimas a draft law in August, and for consideration gets it at the meeting on 19 October. In the project it was estimated that the cost of this operation for banks would amount to 3.6-4 billion UAH. KNF appreciated that these values are “not supported by exhaustive calculations”. Considering all the costs, the consequences for banks will be much more serious than were evaluated by the experts of the President.
As reported, according to the FSC, at the end of 2016, 27 of the 28 banks included in the study Commission’s planned profit. When the effect of the projected law, the number of banks providing for losses increased from one to nine, and, in addition, one of the banks that provide the profit suggested that costs will manage directly its own means, i.e. that you have to draw from the stockpile, and to be able to issue shares to cover the deficit.
“the Cumulative consequence of the proposed banks at the end of 2016. in the case of the entry into force of the draft law zmniejszyłby from 11.3 billion to 3.7 billion rubles,” – said KNF.
Already, according to the national Bank the costs of the project became known as the “twice”. The national BANK recognized that in addition to direct refund of spreads for customers, banks poniosłyby in addition, operating costs, employee engagement and operational changes.
the Project had a negative assessment of the Union of Polish Banks, appreciating that the cost of implementing the law in the proposed version, depending on the height used spreads, will be 7.7-14 bln.
the President’s law applies to loan agreements, is included from 1 July 2000 until the entry into force of the so-called “law antyspreadowej”, 26 August 2011. Touch with consumers as well as those persons engaged in economic activities that do not produce taxes in connection with the loans.
How many banks zarobiły in reality?
the Result of law antyspreadowej was a big drop in profits of banks from currency exchange. If back in 2010 and in previous years, according to the NBP “the result of assets and financial liabilities held for trading and assessment for exchange rate difference income” amounted to more than 6 billion roubles a year, since 2014 does not exceed 4 billion UAH. Thus, it is possible to estimate that in reality frankowiczów banks received in UAH 2 billion extra a year.
assuming that the big money has poured into the banks from 2007 to 2011, five years, we can estimate their joint profit on large spreads from frankowiczów 10 billion. This means that the law will cost the KNF only slightly less than it was arrived at too high spreads.
the Returned needs to be spread, i.e. the difference between the purchase and sale, loaded in the amount higher than allowed. For such a law is a course which stands out more than 0.5 percent. from the rate of purchase/sale of foreign currency specified in the NBP.
the Spreads are coming back from loans (regardless of the number of loans) in the amount of 350 thousand. PLN per person. If the loan is glorified above, that phrase, and it will be done to the value of the corresponding parameters of the maximum. The money will be returned even if the contract on the credit has expired, was convicted or the loan was repaid.
Customers of the banks project they six months from the date of entry into force of the law to submit applications to the Bank, kwestionującego height naliczanego spread. Banks will have to respond within 30 days. Then the borrowers will receive a year of filing the application for the refund of the overpayment. Income restored spread will be exempt from income tax.
Fix is still possible
According to Przemyslaw Bryksy from the President’s Office, who coordinated the work on the project, if in the course of parliamentary work appears relevant to focus on some articles, it is not excluded that the President will take them into consideration when amendments or even autopoprawkę.
Doubts NBP caused, for example, a method of determining the value of compensation spreads, which were assigned foreign currency and not in gold. According to the national BANK, also has no basis for charging legal half percent of the amount of return spreads, as concerns the method of determining the spread of the reference for which the excess of the Bank must return to the client.
In mid-March, the Financial Supervisory Commission negatively evaluated the previous presidential bill on frankowiczów – “about ways to restore the equality of the parties to certain loan agreements and collateral agreements”. It was presented on 15 January and involved the conversion of foreign currency mortgage loan in gold at “fair” exchange rate.
In his opinion the KNF recognized then that the project “not only to undermine the stability of individual banks, but also lead to loss of confidence in the banking system, and in extreme cases causing a financial crisis”.
No comments:
Post a Comment