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Poland's financial regulator says cost of FX loans bill still unknown
March 9, 2016 / 8:54 AM / 2 years ago

Poland's financial regulator says cost of FX loans bill still unknown

WARSAW, March 9 (Reuters) - Poland’s financial regulator KNF has not yet calculated the cost of a foreign exchange loans conversion bill proposed by President Andrzej Duda, the presidential member of the watchdog said on Wednesday.

The president’s office laid out a draft law in January to saddle lenders with the costs of converting Swiss franc mortgages, aiming to help more than half a million Poles with such loans after the value of the franc rose. The office sent a draft of the bill the regulator to estimate its cost.

“It has not yet been calculated,” Zdzislaw Sokal, who is also Duda’s economic adviser, told Reuters.

The Polish central bank previously said the bill could cost lender up to 44 billion zlotys ($11.2 billion). ($1 = 3.9378 zlotys) (Reporting by Marcin Goclowski i Pawel Florkiewicz; Writing by Wiktor Szary; Editing by Marcin Goettig)

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