With Switzerland ending its currency cap last week, the value of the franc has surged causing a massive increase in monthly payments for millions in Poland. Before 2008 and the global economic crisis, banks in Poland and other countries could offer mortgages to their customers based in Swiss francs. Even though the foreign currency loan are no longer offered, there are still numerous people who are still paying off their loans from pre-2008.
The Polish government is asking banks to offer their customers to pay the loans back at the January 14 rate or to pass negative interest rates to help the situation where customers now have loans that exceed the value of the property. The government has said it will step in if banks start requiring additional collateral for such properties./p>
Full Content: Global Association of Risk Professionals
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI