The issue of franc loans should be solved by law, says the President of PKO Bank Polski Dariusz Szwed. According to him, a standard model of the contract should be developed to reduce the likelihood of its subsequent undermining.
“Without the law that regulates these solutions, we will continue to face uncertainty as a banking sector,” the Swede said at the Retail Banking Congress.
The matter that should be regulated by such a law is the model for concluding settlements. As reported, at the end of September PKO BP had 34 thousand settlements for approx. 50,000 applications. He stressed that the settlements are concluded before the arbitration of the Polish Financial Supervision Authority and then approved by the court.
“This problem [the CHF loan problem] is still ahead of us. Although you can see the trend coming down, because the contracts are paying off, there are fewer and fewer loans, but the sector will struggle with it for a few years.
The Chairman of the Polish Financial Supervision Authority (KNF) Jacek Jastrzębski in a recent interview did not rule out recommending the law, which would solve the problem of franc loans in a systemic way. He stated that the supervision should have “such a systemic statutory solution, which has been well-thought-out and developed”, noted, however, that “intervention by means of a systemic statutory solution” would be necessary in the case of escalating problems with the repayment of mortgages, and this situation does not occur for the time being.
According to the President of PKO BP, in order to avoid similar problems in the future, a standard model of the contract should be developed to reduce the likelihood of its subsequent undermining.
The coordinator of the European Financial Congress (EKF) Leszek Pawłowicz informed that the EKF has developed a draft such a model agreement and sent to the Polish Financial Supervision Authority and the Office of Competition and Consumer Protection for opinion.
Source: PKO BP and ISBnews
Photo: Dariusz Szwed – PKO Bank Polski
