Banking sector overview | Banking: today and tomorrow | August 2023

29 July 2023 | Banking today and tomorrow, Knowledge, News

UKNF’s position on legal and economic issues related to the WIBOR benchmark

The Office of the Polish Financial Supervision Authority (UKNF) presents a position paper on legal and economic issues related to PLN mortgage loan agreements in which the WIBOR interest rate benchmark is used. The position paper has been prepared in connection with statements in the public domain questioning the credibility and legality of WIBOR. This position may be used as an opinion of the UKNF in court proceedings concerning PLN mortgage loan agreements in which WIBOR is used.

Source: Office of the Financial Supervision Authority

Deterioration of CHF loan quality is a result of borrowers stopping paying instalments after commencement of litigation

The main reason for the recent deterioration in the quality of the CHF mortgage portfolio may be the discontinuation of loan repayment by clients who have initiated litigation with the bank, according to Sławomir Nosal, leader of the Credit Information Bureau (BIK) Analysis Team.


Fourteen banks will soon be offering the 2% Safe Mortgage, and Home Savings Accounts are already operational in two banks

During the first 20 days of the 2% Safe Mortgage programme, almost 11,500 applications were submitted to banks, noted Agnieszka Wachnicka, Vice-President of the Polish Bank Association, at the organisation’s July press conference. In the same period, 223 loan agreements were concluded, which, considering the statutory 21-day period for processing applications, may be a confirmation of the high efficiency of financial institutions.


Up to 28 % of Poles may want to use the 2% Safe Mortgage programme, according to BIK estimates

The first half of the year on the lending market can be divided into two periods, a weak first quarter and a stronger second quarter with a clear recovery in lending. According to the Credit Information Bureau (BIK), Q3 and Q4 will see a further improvement in sentiment, helped by the 2% Safe Mortgage programme, which up to 28 per cent of the public may wish to take advantage of.


“2% safe loans” vs. unintentional exceeding of statutory limits. The bank can block a surcharge

“2% safe loans” have statutory maximum funding and contribution amounts. But what happens if customers inadvertently exceed these limits? Theoretically, this can happen when we buy an apartment from a real estate developer – the company may deliver a unit that is one or two metres larger when construction is complete and demand a surcharge. This question is answered by an expert.


Farewell to 7% interest rates? Fixed rate mortgages are getting cheaper

The interest rates offered to borrowers have definitely started to fall. A few months ago, it was impossible to find a bank offering a mortgage with an interest rate below 7%. In August, several institutions have such an offer with a periodically fixed rate.


Banks are back in the favour of investors

There is no trace left of the big price reductions from spring to mid-October 2022, and even the CJEU judgment on CHF loans did not strongly spoil market sentiment. Still, no one expects any spectacular increases.

Source: Rzeczpospolita

Eurozone rate hike cycle nearing its end?

The European Central Bank’s main interest rate rose to 4.25%, as expected. However, it’s highly uncertain as to whether there will also be a rate hike in September.

Source: Rzeczpospolita

Tackling e-fraud and easier access to cash – the next payments revolution on the horizon. This is what PSD3 will bring

Successive versions of the EU Payments Directive have always brought major changes. The first separated banking from payment services, the second, among other things, opened the way for the use of data previously hidden in bank ‘safes’. We summarise what the third edition of the PSD is bringing.


Krzysztof Pietraszkiewicz: There are areas where the activities of banks are over-regulated, there are areas where there is poor regulation, and there are areas where regulation is lacking

Source: GDP

Intelligent robots have already completed 220 million tasks at PKO Bank Polski

In just over a year, robots at PKO Bank Polski have completed 100 million tasks, which means that robotisation has accelerated twice as fast as in previous years. The number of robotised activities has already exceeded 220 million. The bank is using robots to serve clients faster and more efficiently, including via its credit holiday programme, and in creating and delivering new products and services.

Source: Polish Press Agency

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Banking today and tomorrow | An overview of the banking sector | July 2023

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