Lex specialis for CHF loans is agreed on – and it will cost ALL OF US


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Those who have taken loans in Swiss francs will be granted a write-off of about 40 percent of the principal, reports the Vecernje Novosti daily.

This daily reports that the proposal of the lex specialis, which was agreed upon by the state, bankers and debtors, will be discussed today.

The offer includes the participation of the state in covering 15 percent of the principal, banks “will forgive” between 22 and 23 percent, and additional tax relief for banks will amount to 2-3%. When all these figures are added, a minimum deviation from 40 percent by +/- 0.5 percent is possible, the newspaper reports.

According to the newspaper, the percentage of the write-off of the current principal, over which bankers and debtors were arguing for days, is practically a compromise that the state offered between the banks’ calculation of 30 percent write-off and 50 percent demanded by the debtors.

The state has made the final decision on one more matter: lex specialis must apply to all debtors who repay loans indexed in Swiss francs, and not just those with a principal of about 50,000 euros, which was the request of the banks.

After the write-off of 40% of the remaining debt (without interest), the amount of the new principal is converted into euros based on the official middle exchange rate and the interest rate of 3.5 percent per year is applied to thus formed remainder of the debt.

The state will certainly participate in the compensation of part of the costs to banks. It is certain that a higher burden of write-offs will be borne by banks, and the exact share of the costs covered by the state ranges from 30 to 40 percent of total write-off. Those who have taken loans in Swiss francs owe to banks, according to the latest data, 540 million euros.

This means that the state will allocate about 80 million euros from the budget for this purpose.

Source: Večernje novosti

Photo: Pixabay