Polish Bank Association: Credit holidays may turn out to be a disaster

Krzysztof Pietraszkiewicz, president of the Polish Bank Association, does not hide his fears about the government’s idea of ​​supporting borrowers

Prime Minister Mateusz Morawiecki presented a plan to support borrowers, which is to allow them to go through the difficult moment of high interest rates. Four months of credit holidays this and next year, financial support from the Borrowers Support Fund, lowering WIBOR – these are elements of the government aid. Details were announced during the Tuesday press conference by Prime Minister Mateusz Morawiecki.

“We want to carry out quick actions to help Poles pay off their mortgage loans. Today, at the Council of Ministers, we proposed new solutions that will be sent for consultations lasting several days”, said the Prime Minister.

The head of the Polish Bank Association warns

The government’s idea was commented on by Krzysztof Pietraszkiewicz, president of the Polish Bank Association, on RMF FM. In his opinion, it will not be possible to avoid shifting the costs onto borrowers who can afford to pay off the loans. “If credit holidays are available to all borrowers, the consequences will be severe for other customers,” he said. – Stability (of the banking sector – editorial note) is important, and credit holidays, which all borrowers could take advantage of at the same time, could turn out to be a catastrophe”, he added.

The government gives up WIBOR

An important element of the government plan is the resignation from WIBOR as the indicator on the basis of which the amount of loan instalments will be calculated. It will be replaced by the POLONIA overnight rate.

“We will introduce mechanisms to help citizens repay their loans through a lower reference value. WIBOR will be replaced with a new rate – if the banking sector does not generate it, it will be the POLONIA overnight rate, calculated by the NBP, which is even 0.4 percentage point more favourable. percent This will give annual savings of PLN 1 billion, the cost of which will be borne by banks”, Morawiecki explained.

Source: Wprost Photo: Polish Bank Association

Previous articleWhat to do if you forgot to submit your PIT tax return or made a mistake?
Next article2000 for a studio apartment is the norm. It won’t be cheaper for a long time
I am from Denmark but have lived and done business in Poland since the Spring in 2008. I have had a webshop with Scandinavian designed products, and event company in Poland. Today I am a business consultant and b2b IT consultant plus sales agent on the Polish market. I have lived/done business in 3 different cities and in 3 different regions (voivodeships) in Poland. My business network and knowledge about doing business in Poland and about Poland are therefore very big.

LEAVE A REPLY

Please enter your comment!
Please enter your name here