WARSAW: Poland’s top financial system overseers oppose the latest version of legislation which would allow conversion of FX-mortgages at historic FX rates and put 90% of the loss to banks, Minister of Finance Mateusz Szczurek said Wednesday following a sitting of the Financial Stability Committee.
“The Financial Stability Committee unanimously gives a negative opinion to the solutions included in the FX mortgage bill approved by the lower house,” Szczurek told reporters. Enactment of the legislation will have a “negative impact” on zloty market rates to worsen conditions for the rump set of FX-mortgage borrowers, he said.
The bill, currently headed to the Senate upper house, “bears threats for the stability of the Polish financial sector,” the Committee said in a formal statement.If the bill entered into force in the current shape, banks would reduce lending in the following years, both for households and for corporates, according to the Committee.
