Polish banks present feeble proposals on Swiss franc mortgage crisis
PR dla Zagranicy
Aleksander Nowacki
11.03.2015 19:29
Polish banking industry’s proposals on Swiss franc mortgages unveiled on Wednesday are unlikely to stem regulatory action, experts said.
Photo: Glowimages
The Polish Bank Association (ZBP) proposed setting up a mortgage restructuring fund to help any individuals who struggle to repay home loans due to unforeseeable misfortune. Banks would put up half the fund’s money.
Banks also proposed setting up a stabilisation fund, which would chip in to repayments at times of particular franc strength. The bankers hope for the state budget to cough up a third of the fund’s cash.
The Polish Financial Service Authority (KNF) chairman, Andrzej Jakubiak said the proposals would benefit mostly banks.
Finance Minister Mateusz Szczurek declined to comment on the banks’ proposals, saying it would be premature. (an)
Source: PAP