Glapiński: Extending the general loan holidays is inadvisable

During the Christmas online meeting of the banking community, the President of the National Bank of Poland, Adam Glapiński, was critical of the idea of ​​extending the general loan holidays until 2024.

Glapiński critically about universal credit holidays

– I will refer to the idea of ​​extending the general loan holidays for another year. NBP considers them unnecessary, we repeat this once again, and even inadvisable, because in the long term it supports the promotion of moral hazard attitudes – said the head of the central bank.

Glapiński pointed out that people who still experience excessive burdens on their income due to installment repayments can use the Borrower Support Fund at BGK, which works well and still has significant funds at its disposal.

From the beginning, the President of the National Bank of Poland looked at the concept of loan holidays for all borrowers with caution. – Government financial support should be limited only to those borrowers who actually need it, and not to everyone, as happened – Glapiński said in the Sejm in July last year, just before the credit holidays came into force.

Let us recall that the latest government idea of ​​extending loan holidays assumes that borrowers would be eligible for support if the capital amount of the loan granted to them was no higher than PLN 400,000. In the case of a higher capital amount, but not more than PLN 800,000, suspension of loan repayment would be possible if the ratio of expenses related to servicing the monthly capital and interest installment of the loan to the borrower’s average monthly household income exceeds 50%. For now, however, this project is suspended because the Sejm of the new term has not dealt with it.

The new government will decide the fate of credit holidays

In recent days, the bill to extend the loan holidays, which was submitted to the Marshal’s staff by the MPs of Poland 2050, was also withdrawn from the work of the lower house of parliament. It assumed the possibility of suspending four installments of a mortgage loan for the purchase of a flat during the year (once a quarter) if PLN 40 was used to service the loan. percent the borrower’s average household income in the last three months preceding the submission of the application.

– When it comes to credit holidays, from what I learned today from the heads of the clubs, the decision was made in terms of the substance in line with what we talked about in the wind farm act – that is, we leave these things at the disposal and decision of the future government – explained Szymon Hołownia, Marshal of the Sejm and leader of Poland 2050.