Widespread credit holidays raise concerns of the Polish Bank Association. – The act is unfair because it promotes the most affluent borrowers – said Krzysztof Pietraszkiewicz, president of the Polish Bank Association. As he added, the solution will have to be co-financed by other bank customers who will receive “a slightly lower interest rate on their deposits with low interest rates”.
President Andrzej Duda on Thursday, he signed an act on crowdfunding for business ventures and assistance to borrowers. The purpose of the act is to support for people who took out PLN mortgage loans. The regulations will introduce the possibility of using the so-called credit holidays in 2022 and 2023.
Credit holidays – the president of the Polish Bank Association comments
– Certain reliefs, certain preferences in the form of universal loan holidays for borrowers of mortgage loans in Polish currency will have to be co-financed or financed by other bank customers – said Krzysztof Pietraszkiewicz, president of the Polish Bank Association during the Thursday press briefing.
– We’re in progress the legislative process paid attention to this and that is why, in line with the public opinion, we suggested that these credit holidays – in view of the complicated situation we are dealing with and which looms on our horizon – should be aimed at providing help to those who need it – added.
As he admitted, the ZBP estimates show that the “vast majority” of eligible borrowers may benefit from statutory credit holidays. – That is why we said that this act is unfair, because it promotes the most affluent borrowers at the expense of depositors, because they will receive, unfortunately, a slightly lower interest on their deposits with low interest rates, as well as at the expense of other borrowers who will have to bear some of these burdens and at the expense of those who are co-owners of Polish banks, said Pietraszkiewicz.
The President of the Polish Banks Association indicated that “these costs must be borne by all other clients, all other citizens, therefore we paid attention to direct this help to people who need this help the most”.
From when will it be possible to submit applications to banks?
– I have to say with regret that the substantive voices were not taken into account and the suggestions of both the National Bank of Poland, the Polish Financial Supervision Authority and the Bank Guarantee Fund were not taken into account. I think that this is not the best experience for the future, but the solution is introduced, the banks operate in accordance with the law and will operate in accordance with the law, knowing that as a result of this operation, the strength of Polish banks will also be reduced, the one we need in lending Polish economy in the coming years and the implementation of development programs – said Pietraszkiewicz.
At the same time, he assured that the banks would do their best to be ready for the law to enter into force. Articles on statutory credit holidays will enter into force 14 days from the date of publication in the Journal of Laws.
– From the organizational point of view for banks, we will try to do everything to ensure that, in accordance with the provisions of the act, the possibility of using these facilities is as provided for in the act, i.e. within a dozen or so days so that applications can be submitted and this project can be carried out – assured the head of the Polish Bank Association.
Applications can be submitted online – in internet banking, as well as in a traditional way – at a bank branch. About the the banks are getting ready We have written about the entry into force of the statutory credit holidays in recent days.
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