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The Warsaw Voice » Business » August 24, 2017
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Presidential proposal criticized
August 24, 2017   
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Banks, the financial regulator KNF and the central bank NBP are all finding faults with the newest proposal of fixing the problem of CHF mortgages from President Andrzej Duda, the daily Puls Biznesu reports. The KNF worries about the situation of smaller banks and mulls temporarily excusing them from participation in the relief fund, according to the daily. That may mean increased burdens on larger banks.
The NBP supports the bill officially, but does fret about the market commotion it may cause. Institutions with CHF-mortgage portfolios that no longer run banking operations will likely offer very attractive FX conversion terms to take advantage of not only their own premiums to the proposed restructuring fund but also those of other banks slower at the process, one unnamed banker worries.
Also the lack of a reference conversion FX rate in the bill poses a risk of a downward spiral in negotiations with clients.
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