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Polish Banks Slump as Mortgage Cost Concern Spurs Trader ‘Panic’

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Polish banks slumped after parliament approved amendments to a draft law that may double the cost for lenders of providing financial aid to holders of Swiss-franc mortgages.

The decision late Wednesday pushed the shares of PKO Bank Polski SA, the nation’s biggest lender, to the lowest level in more than six years and wiped 19 percent off the market value of Getin Noble Bank SA. The benchmark WIG20 Index slipped 2.8 percent, the most of any gauge in the world on Thursday.