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NBP Adds Pressure to Resolve FX Loan Saga; 4Q GDP In Focus

POLAND

LOCAL NEWS

  • NBP is piling pressure on commercial lenders to finally resolve their $31 billion portfolio of foreign-currency mortgages.
  • Said yesterday it's ready to assist with converting the mainly Swiss franc-denominated loans into zloty. NBP's possible involvement is of critical importance, given the systemic nature of the operation."
  • "A sufficiently large group of banks joining the initiative would ensure that the majority of the domestic, foreign-currency housing loan portfolio will be covered by the project."
  • Poland to extend payout of childcare benefits by another fortnight, to March 14. estimated cost of paying out the benefit is PLN 450m
  • 0900GMT 4Q GDP YoY, prior -2.8%;SA QoQ, prior -0.7
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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