Poland Moves to Defuse $30 Billion Swiss-Loan Risk to Banks
This content was published on February 10, 2021 - 13:43
February 10, 2021 - 13:43
(Bloomberg) Poland’s central bank moved to resolve the biggest threat to the country’s financial industry, offering commercial lenders help in converting $30 billion of Swiss-franc loans into zloty.
The banks asked the monetary authority to step in after a multitude of lawsuits over the loans forced them into mounting provisions. But the stiff conditions attached to aid, which include halting dividends and shoring up capital, are already facing a pushback from the industry, meaning the deal may take time to hash out.
Poland Moves to Resolve $30 Billion Swiss-Loan Threat to Banks
Adrian Krajewski and Konrad Krasuski, Bloomberg News A visitor exits the headquarters of Poland s central bank, also known as Narodowy Bank Polski, in Warsaw, Poland, on Wednesday, Nov. 9, 2016. After holding the benchmark at a record low for a 17 month, the central bank said it wonât start tightening policy until late next year if inflation and economic growth pick up as predicted. Photographer: Piotr Malecki/Bloomberg , Bloomberg
(Bloomberg) Polandâs central bank moved to resolve the biggest threat to the countryâs financial industry, offering commercial lenders help in converting $30 billion of Swiss-franc loans into zloty.