Prime minister to Polish banks:

The government spokesman on Radio Plus was asked about the aid package for borrowers announced by Prime Minister Mateusz Morawiecki. As he indicated, work on the bill is already being finalised and “it will be sent to the Sejm at any moment and will be implemented”. As he added, the goal is for the solutions to be launched during the summer vacation.

When asked about the issue of replacing WIBOR with a different indicator, Müller pointed out that this was the perspective of the beginning of next year.

Increase interest rates on deposits

The government spokesman was also asked about the prime minister’s appeal to banks to increase interest rates on deposits and deposits. Müller admitted: ” We can see that the relationship between the amount of interest on loans and deposits is incorrect and I can say that banks have some time to come to this reflection themselves, and if this reflection does not come to that, then perhaps it will have to be undertaken regulatory actions “. In this context, he indicated that the KNF may verify certain attitudes and behaviours of banks. “You can also start introducing certain legal solutions that will regulate certain things” – he added.

“From this point I would like to send a clear signal to the banking sector that it would be better if it was a self-reflection than a regulatory reflection, ” he said.

When asked when banks had time to do so, the spokesman replied that next week the head of government was meeting with banking sector experts to discuss “how to introduce certain solutions without additional statutory regulations”. “If these do not work, you may have to look for new solutions” – he noted.

Prime Minister Morawiecki presented last week in Katowice an aid plan for people who pay off PLN mortgage loans.

Aid consists of four points

As the head of government explained, this aid consists of four points. The first is three months of “credit holidays”, the second is to help borrowers with temporary problems, the third is to introduce a new loan interest rate in place of WIBOR, and the fourth is to strengthen the resilience of the entire banking sector. From 2023, banks are to use a transparent and more favourable interest rate on loans instead of WIBOR.

The bill on support for borrowers will be ready within a few weeks so that it can take effect during the summer holidays, announced the Minister of Development and Technology, Waldemar Buda. He added that work on it is ongoing in cooperation with the Ministry of Finance.

Source: BusinessInsider


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