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CJEU Rules In Another CHF Loan Case, Polish Stock Indexes To Undergo Annual Revision

POLAND
  • The Court of Justice of the European Union (CJEU) ruled that consumer protection granted by EU legislation is not limited to the duration of the performance of a contract but also applies thereafter. The case was brought by a Polish court in relation to FX mortgage loans amid the prolonged legal spat between lenders and consumers. The ruling represents another victory for consumers ahead of a key verdict in another case related to FX mortgages expected around mid-2023 at the earliest.
  • The main Polish stock indexes will undergo annual revisions after hours today. Alior Bank is set to replace CCC in benchmark WIG20 Index. As a result of re-weighting, state-owned petrol retailer Orlen's share in the index will be limited to 15%. The WIG20 last trades 3.4% lower on the year.
  • Prime Minister Mateusz Morawiecki will meet with Czech President Petr Pavel who is in Warsaw for a two-day state visit.
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