Economy Journal Online: Polish banks take into account the negative interest rates in Switzerland …

Tuesday, January 20, 2015

Polish banks take into account the negative interest rates in Switzerland … – TVN24 Business and the World

On Tuesday, the Financial Stability Committee will meet ws. Franc. NBP President Marek Belka, who estimates that the impact on borrowers frankowych is “relatively stable”, counts on information from representatives of banks, or take into account the negative interest rates in Switzerland.

More about francs on TVN24 Business and the World

A spokeswoman for the Ministry of Finance Wieslaw Dróżdż said on Monday that the meeting of the Committee will be devoted to a discussion on the impact of the decision Swiss central bank on the Swiss franc on the situation of the Polish financial market actors, with particular emphasis on the banking sector. – The meeting will be attended by members of the Committee and representatives of selected commercial banks – she said.

ZR & oacute; DLO: TVN24 Business and the World guest of the & quot; World & quot; was Janusz Lewandowski

If the banks will require additional collateral from borrowers – the reaction will be … See more »

The situation in the banks

President of the NBP, which is a member of the KSF, said on Monday in Tok FM that he would like to bankers assessed what the situation in their banks. – We want to hear, or provide for any action (…), typical for such a situation, for example, (…) additional insurance. I very much discouraged such action, because it could end badly for the banks – says the head of the National Bank of Poland.

– Besides, we want to ask if you will be able to take account of falling interest rates on the Swiss franc. But today they are negative, and as far as I know are those banks, which take account of the falling rate of the franc, but only to zero. (…) You can change the agreement (credit – ed.) – Beam said. He added that in such a situation, it is true, banks would have earned less, but it would be in the interest of financial stability of the system.

According to the president of the central bank thus not increase significantly the number of people who can not repay the loan and reduce the threat of ideas “wholesale support” for borrowers, which would involve a huge cost to the banks or the taxpayers.

Solutions from banks

According to the head of the NBP bankers should borrowers to propose a solution that would allow them to stabilize the situation. – Currency risks, which are borne solely those borrowers still have to be sooner or later somehow spread to both sides. And how not to be, that the banks will still & gt; & gt; & lt annoyed; & lt; – Belka said. He pointed eg. On lawsuits against banks.

The & quot; Business for the people & quot; Paul invites Blajer

In today’s program “Business for the people” Paul Blajer wondered how t … see more »

NBP chief stressed that now we have an emergency and emergency action is needed. – Banks must surely modify its policy liquidity, because the new franc poses additional difficulties for them to finance these loans. So they have to somehow deal with it. You will have to prepare for the likely increase in the credit risk of borrowers – he said.

Beam believes that before any action is taken against the franc indebted borrowers, wait for the stabilization of the franc. – A very important thing waiting for us on Thursday. It will be a meeting of the Governing Board of the European Central Bank, after which – as the market interprets the ECB’s action plan – we will know more, whether the euro will weaken, or not. And this will have a direct effect on the franc, but to some extent also for the zloty – he said.

Beam believes that the actions taken by the ECB “will not be so drastic,” as some expect. – Then we will probably have to deal with a slight strengthening of the euro and I hope, a little stronger weakening of the franc – he said. – But maybe it is just wishful thinking, because as we know the exchange rate can not be predicted – reserved.

ZR & oacute; DLO: tvn24 How to take credit vacation?

Growing Swiss franc makes some Poles indebted in this … See more »

According to the beams in perspective can be rather expected that the franc will cost 4 zł, or a little more than 3.5 zł. – So it’s a blow to the borrowers frankowych is relatively permanent and irreversible – rated. He pointed out that the analysis of the NBP, the franc would have to cost more than 5 zł that threatened the stability of banks in Poland. In his opinion, banks will feel the higher cost of financing loans frankowych and lower liquidity, which will translate into less profit some of them. Worry can however increase the credit risk of some banks.

For better cooperation

According to the Act on the Financial Stability Committee, its aim is to ensure effective co-operation in the field of support and maintain the stability of the domestic financial system through the exchange of information, opinions and assessments of the situation in the financial system in the country and abroad, and the coordination of activities in this area. KSF members are the Minister of Finance (Chairman KSF), President of the NBP, the chairman of the Financial Supervision Commission and the President of the Bank Guarantee Fund.

Its role is primarily to make assessments of the situation in the domestic financial system and international markets, and ensure proper the flow of information between the members of the Committee on significant events and trends that may threaten the stability of the domestic financial system. The Committee is to develop and adopt management procedures in the event of a threat to the stability of the domestic financial system. Moreover, it is obliged to coordinate the activities of its members in the event of an imminent threat to the stability of the domestic financial system.

The Swiss central bank (SNB) unexpectedly announced Thursday morning that it ceases to defend its currency and releases the Swiss franc. SNB maintained so far. pegged, which meant that the euro could cost less than 1.2 franc. At the same time the SNB on Thursday lowered the interest rate to -0.75 percent. The effect of these decisions was panic and confusion in the market. A few minutes before 11am on Thursday course CHF / PLN exceed 5.19 (the day before the afternoon the Swiss franc cost 3,57 zł) – such a course would not have ever recorded in history. Then the situation is somewhat calmed down and gold recovered some losses.

On Monday, approx. H. 20 franc valued at 4.24 zł.

How exactly loans ?

According to the latest data obtained by tvn24bis.pl Credit Information Bureau shows that at the end of October was in Poland 566 503 loan accounts frankowych (982 510 thous. people). Initial amount of these liabilities amounted to 125 billion 455 million zł. Their value is calculated at the rate of 4.2 zł per franc reached 163 billion zł 29 million.

Number of accounts	556 503
The number of customers	982 510
The starting amount	125 454 573 229
The	135 314 194 072
The value of the exchange rate 4,20 zł	163 029 419 162
The amount given in the currency	51 902 132 652
The value of the currency	38 816 528 372