Most FX loans were denominated to CHF when the Polish national currency was strong, but later on the Swiss franc appreciated rapidly, leaving the customers with extensive debt to pay off.
The National Bank of Poland resorted to selling foreign currencies on Wednesday after a similar move on Tuesday as the Polish zloty slid to its lowest level against the US dollar in two decades due to the Ukraine war.
The National Bank of Poland resorted to selling foreign currencies on Tuesday in an emergency move as the Polish zloty slid to its lowest level against the US dollar in two decades over the Ukraine crisis.
Poland's central bank, NBP, has decided to grant an FX swap to its Ukrainian counterpart of up to PLN 4 billion (EUR 850,000), NBP said in a Thursday statement.
Legal risks coming from FX mortgages remain the main source of uncertainty for the Polish financial sector, wrote Poland’s central bank (NBP) in its latest Financial Stability Report.
The European Court of Justice (CJEU) is leaving it to Polish courts to assess the validity of FX loan contracts containing abusive clauses, according to a non-binding CJEU statement released ahead of a relevant verdict to be published later Thursday.
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