ECB criticises draft Polish law on foreign-denominated loans

National Bank of Poland entrance and sign
The National Bank of Poland also issued an opinion that said the draft law could result in higher costs
Photo: Andrzej Barabasz (Chepry)

The European Central Bank has issued an opinion criticising a Polish draft law that would allow consumers to request that housing loans denominated in Swiss francs be converted into the local currency.

“Implementation of the draft law may entail significant financial costs for the banking sector,” the ECB said. It added that its critical opinion of the law concurred with an opinion issued by the National Bank of Poland (NBP) in response to a request by the Sejm, the lower house of the Polish

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