WARSAW: The Polish government will press to reinstate a 50-50 split of the cost of converting FX-mortgages to zloty between banks and clients as key banking legislation goes through the Senate, upper house prime Minister Ewa Kopacz said Tuesday.
“That was written in our bill, and I will hold that line,” Kopacz told a briefing of the original shape of FX-mortgage conversion legislation. Last minute amendments to legislation allowing for FX-mortgage conversion radically altered how banks and clients would split the FX loss, putting 90% of the FX loss on banks, and also expanded program eligibility.
“I stand on the guard of the Polish financial system,” Kopacz said. “Otherwise we will see misfortune hitting not only Swiss franc borrowers.” The amendments to the initial bill add some PLN 10 billion in costs for banks and “would bring destabilization of the bank system,” she said.
