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Wednesday, December 1, 2021

Swiss franc loans. Mediation requests and signed settlements

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So far, 400 agreements on loans in Swiss francs have been signed in the Arbitration Court at the Polish Financial Supervision Authority. The court received a total of almost 8,000 requests for mediation, said Jacek Jastrzębski, chairman of the Polish Financial Supervision Authority, on Thursday at TOK FM.

– The launch of the program of concluding settlements with customers who have loans in Swiss francs at the operational level is a great success. The banks wanted legal certainty in the settlement process, and we met them by offering the assistance of the Arbitration Court at the Polish Financial Supervision Authority. So far, almost 8,000 applications for mediation in the case of Swiss franc loans have been submitted, and in the case of about 6,000, deadlines have already been set. There are already 400 settlements concluded and signed, and over 600 settlements concluded but not yet signed – said Jacek Jastrzębski, chairman of the Polish Financial Supervision Authority, in TOK FM radio.

In his opinion, the fact that clients can use mediation is a great success. – Currently, we are in a situation where two banks are already offering such agreements at the operational level, and one is advanced in preparations to launch such a process – added Jastrzębski.

He stated that the PFSA’s proposal, which appeared at the end of 2020, regarding settlements – which consists in concluding a settlement on the basis that a loan denominated in francs from the beginning was a loan granted in zlotys – was a voluntary proposal and each bank can decide whether it will be concluded settlements according to the rules indicated by the Polish Financial Supervision Authority or other.


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Mediation process

Mediations are conducted before the arbitration court at the PFSA. As we read on the website of the Commission, “the bank with which the client concluded such a loan agreement (in Swiss francs – ed.) Allows, through its electronic banking system, to submit an application for mediation at the Mediation Center of the Arbitration Court at the Polish Financial Supervision Authority (persons who do not have access to electronic banking have the possibility of submitting such an application at a bank branch) “.

It was also written that, as expected by the banks, the application for mediation must be submitted jointly by all borrowers who concluded the original loan agreement.

“It should be emphasized that mediation is voluntary and may be conducted only if its future participants agree to it (in the form of a mediation agreement). The bank’s consent to mediation means the conclusion of a mediation agreement.”

Mediation process KNF

Swiss franc loans – banks propose settlements

The president of mBank, Cezary Stypułkowski, announced at the beginning of November this year that the bank was preparing to conduct a pilot agreement on Swiss franc loans. The bank is working both on settlements in the formula proposed by the Polish Financial Supervision Authority, and on its own – alternative solution.

Previously, it was possible to conclude agreements with customers who had loans in Swiss francs offered by PKO BP. In the second half of October, the bank announced that PKO BP clients submitted 10,000 contracts for mediation in Swiss franc loans. He added that mediation with franchise holders resulted in settlements, and the first client signed the annex.

BNP Paribas Bank Polska has been conducting a pilot of settlements on foreign currency housing loans, but has not made the final decision on offering settlements. About the fact that Santander Bank Polska is leading tests of concluding settlements with Swiss franc borrowers the bank’s president, Michał Gajewski, also informed.

Bank Pekao informed that it was planning to make settlements, but was still working on the details of the conversion mechanism.

In turn, Bank Millennium concluded over 4,000 settlements with franchisees. The bank did not launch a program of agreements with borrowers on the terms proposed by the Polish Financial Supervision Authority, instead trying to get along with them on its own terms – Rzeczpospolita wrote.

The full body of the Civil Chamber of the Supreme Court at the beginning of September this year. has not issued a resolution on foreign currency loansinstead, it was decided to ask three questions to the Court of Justice of the European Union on the procedure for appointing judges.

PAP / Adam Ziemienowicz

Main photo source: TVN

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