Sunday, January 25, 2015

Piechociński submit proposals for frankowiczów breakthrough … – TVP

Piechociński submit proposals for frankowiczów breakthrough … – TVP

Deputy Prime Minister refused to disclose any details of these proposals; they are to be presented at a press conference. However rated in an interview with reporters that at present “with ease throws himself into the public space simple solutions, not pointing to the complexity of the problem.” – All the best practices in the field of European solutions verified – Piechociński assured. – In a Wednesday press conference – he added. The panic in the market January 15 the Swiss National Bank (SNB) unexpectedly announcing that it releases the rate of its currency, caused panic in the market. So far, the SNB maintained a fixed exchange rate, which meant that the euro could cost less than 1.20 franc. The SNB’s decision meant that the franc appreciated strongly, including against the zloty. That day, for the franc had to pay a record 5.19 zł, but the day before it was valued at 3.57 zł. Such a significant increase in trading franc has become a problem for approx. 550 thousand. Polish indebted borrowers in that currency. In recent days franc fluctuated at approx. 4,30 zł.
On Friday, Presidential Minister Olgierd Dziekoński announced that Bronislaw Komorowski will meet next week with the head of the Financial Stability Committee, Finance Minister Mateusz Szczurek. It has to do with the decision to release the SNB franc. The actions of President – keep up to date the activities of the Financial Stability Committee. Next week, the president will meet with the Chairman of the Committee. Are not excluded also met with other members of this body – Dziekoński told reporters when asked whether the president is going to be involved in the case aid to people whose credit in francs.
On Friday the Polish Bank Association recommended a number of proposals to banks, which would relieve borrowers frankowych. According to these banks for the calculation of interest on installment payments would take into account the negative LIBOR for the Swiss franc. They pointed out, however, that this does not mean that mortgage rates could fall below zero. In addition, half of the year would be significantly reduced rate spread, ie the difference between the sales price and the purchase francs to repay the installments. In addition, the borrower, if credited lives in the property, could apply for an extension of the repayment period or temporary suspension of repayment of principal installment. Decisions lenient treatment in the Swiss currency debt the PBA has also suggested that banks gave up their demands new security and insurance loans from borrowers who have not yet repaid the installments on time. In addit ion, the bankers would not charge a commission, if the borrower wants to replace the (at the average rate of NBP) loan currency – the gold francs. Banks would also apply more flexible rules for restructuring mortgages. Several banks already in the middle of the week to take informed decisions on the lenient treatment of debt in the Swiss currency.
Protests frankowiczów on Saturday in several Polish cities held protests of people who have mortgages in Swiss francs. Participants in these meetings called for dialogue with banks and state aid – in the form of provisions to ensure more favorable repayment terms. Protests people whose debts to banks has increased substantially due to the increase in the value of the franc to the gold, took place among Szczecin, Gdansk, Lodz, Krakow. In Warsaw Frankowicz came before the Presidential Palace.
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