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T-recommendation comes into force


The first part of T-recommendation issued by the Financial Supervisory Commission (KNF) concerning restrictions to access bank loans took effect on 23 August.

Under the biding regulation, it will be obligatory, in case of credits in foreign currency, that loan-to-value (LTV) ratio cannot exceed 90% for 5-year loans and 80% for longer loans. Otherwise, it will be necessary to insure not enough contribution. Moreover, banks will have to divide procedures concerning loan sales and analysis of loan application, risk assessment and credit granting decisions. They should also take into consideration internal and external sources of information while assessing credit capacity. At the same time, information given to the clients should be comprehensive and unambiguous. Finally, banks are to enable clients to take and pay credits off directly in a given currency.

According to KNF, introduction of T-recommendation will improve the quality of credit risk management in banks in Poland.

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