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The Warsaw Voice » Business » August 4, 2017
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Presidential bill will help with CHF-mortgages problem
August 4, 2017   
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The Polish government could succeed in getting banks to convert CHF-mortgages into PLN with the mechanism proposed in a new presidential bill, DM Citi Handlowy analyst Andrzej Powierza told the daily Rzeczpospolita.
Forced to chip in to a new credit restructuring fund, banks will feel motivated to convert loans in order to recover some of the money before other banks benefit, Powierza said.
Another motivation is the fact that a smaller FX mortgage book will result in lower premiums to the fund. FX conversion, first of all aimed at the most distressed borrowers, may lower the future cost of risk, preventing potential defaults.
What may slow the process down are inflated expectations of bank clients, Haitong Bank's Kamil Stolarski noted.
Also, clients may be discouraged by prospects of rate hikes in Poland.
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