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Poland Kicks CHF Loan Issues Down the Road

POLAND

LOCAL NEWS

  • CHF loan talks stall as banks raise concerns over legal risks.
    • Negotiations have been challenging with lenders failing to agree on even basic issues, such as the cost of the planned out-of-court settlements.
    • Postponement of the case until 13 April kicks the can further down the road. authorities encouraged "voluntary" out-of-court deals with clients, converting loans into zloty from the date the mortgages were taken.
    • Regulator said this as the best option - may cost 34.5bn zloty ($8.9 billion) or more (4x last year's industry profit, but a fraction of the bill if courts end up annulling all franc loans)
  • Poland expects to receive some 5M COVID-19 vaccine doses in April and should vaccinate a similar number of people in that month if producers stick to their declarations.
    • Comes after Poland tightened restrictions yesterday amid a surge to 25k daily cases
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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