The Polish Financial Supervision Authority proposes banks to come out with offers of out-of-court settlements with Swiss franc borrowers, informed Jacek Jastrzębski, chairman of the Polish Financial Supervision Authority. Under the agreement, the client would settle accounts with the bank as if his loan had been a PLN loan from the beginning.
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– It seems that the moment has come to finally tackle this issue and finally deal with it – said Jastrzębski on Tuesday during the meeting of the Polish Bank Association.
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– We at the KNF have a certain vision of how to approach this topic. The most important thing is that, due to the expectations surrounding this topic, it is possible to present a concept around which a possible broad consensus can be built – he added.
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In his opinion, the solution that will be developed must also take into account the interests of customers who took out loans in PLN at the same time as Swiss franc borrowers. – So that the solution does not lead to a feeling of injustice – said Jastrzębski.
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Banks versus franc borrowers
– Therefore, I believe that a solution that would assume that banks would offer clients, for example, a voluntary option to conclude agreements, under which the client would settle accounts with the bank as if his loan was from the beginning a PLN loan at the appropriate WIBOR rate increased by the historically used rate for margin on such loans is the most consistent solution – said Jastrzębski. “I am personally convinced that this is a solution that has a chance of success,” he added.
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In his opinion, this may be the last moment when the sector’s emergence with “a consistent, rational and fair proposal may stop the further build-up of antagonisms between banks and customers.”
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– A solution that would be proposed by banks on a voluntary basis would have to provide clients with such a level of economic benefits that would make it a real alternative to the judicial path – said Jastrzębski.
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He added that the KNF started talks on this matter with the Office of Competition and Consumer Protection in order to ensure the protection of consumer rights and the stability and durability of agreements concluded between banks and customers.
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Jastrzębski informed that as a result of the development of judicial decisions, certain expectations were created, which are “a phenomenon from the real sphere and must be taken seriously into account”. The chairman of the Polish Financial Supervision Authority announced that recent analyzes of the judicial decisions indicate that the number of rulings declaring such contracts invalid is growing.
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– It seems that the concept of a PLN loan to LIBOR has ceased to be the main factor that makes bankers sleepless – said Jacek Jastrzębski. “Puls Biznesu” reported recentlythat there is information on the market that currently 95 percent of cases are won by franchisees.
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photo-source">Main photo source: Shutterstock
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