Croatian central bank calls for solution to Swiss franc mortgage quandary

Croatian National Bank

The Croatian National Bank is calling for measures to alleviate households with mortgages denominated in Swiss francs, but says it is "unrealistic" to expect the central bank to come to their rescue.

Around 40% of outstanding Croatian mortgages are denominated in the Swiss currency, which shot up in value when the Swiss National Bank (SNB) abandoned its cap against the euro earlier this month, inflating Croatian debtors' liabilities.

Some of these are ‘subprime' borrowers, with "very low and dou

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