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Poland Considers Franc-Loan Conversion to Make Banks Pay

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Poland may help borrowers convert their Swiss franc-denominated mortgages into zloty after the country’s currency slump this month boosted payments on $35 billion of such debt, Prime Minister Ewa Kopacz said.

Currency conversion will probably be among a list of government proposals to be presented by the end of this week, Kopacz said in an interview on Polish Radio’s Channel One. Banks should introduce changes “quickly” while Poland’s independent financial markets watchdog monitors lenders’ response, she said.