ECB says draft Polish legislation could cause moral hazard
Law may have “considerable impact” on bank profits, central bank says
The European Central Bank has strongly criticised draft legislation put forward by the Polish government to change the regulation of the country’s housing market.
Poland’s parliament passed a draft law in August, allowing “support to home loan borrowers in a difficult financial situation and amending the law on corporate income tax”, the ECB notes. The central bank is obliged by European law to deliver formal opinions on legislation passed by European Union member states that could “materially
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