for a home loan secured by mortgage.
for a home loan with periodically fixed interest rate, secured by mortgage.
for a mortgage loan secured by mortgage.
for a mortgage loan with periodically fixed interest rate, secured by mortgage.
Update - The European Commission has appointed a replacement for the CHF LIBOR3M rate
Pursuant to the Commission Implementing Regulation (EU) 2021/1847 of October 14, 2021 on the designation of the statutory replacement for certain maturities of the LIBOR rate for the Swiss Franc (CHF LIBOR), as a replacement for the CHF LIBOR3M a 3-month SARON compound rate ((SAR3MC) ISIN CH0477123902) with a corrective spread (%) of 0.0031 was designated
The full text of the Implementing Regulation can be found here.
|LIBOR CHF||O/N, 1W, 1M, 2M, 3M, 6M, 12M||as of 31/12/2021|
|LIBOR EUR||O/N, 1W, 1M, 2M, 3M, 6M, 12M||as of 31/12/2021|
|LIBOR GBP||O/N, 1W, 2M, 12M||as of 31/12/2021|
|LIBOR JPY||S/N, 1W, 2M, 12M||as of 31/12/2021|
|LIBOR USD||1W, 2M||as of 31/12/2021|
|LIBOR USD||O/N, 12M||as of 30/06/2023|
What does FCA’s announcement entail?
Cessation of the publication of specific LIBOR benchmarks, including LIBOR 3M for CHF after the above dates means that there will no longer be a current value of the benchmark to determine, for example, the current interest rate or the amount payable under the agreement.
The banking sector is monitoring the situation on a regular basis. Banks are working on the implementation of adequate emergency solutions, including contractual and operating solutions to prepare the contractual relationships for the cessation to provide the above benchmark settings.
New powers of the European Commission
Furthermore, please be informed that, pursuant to BMR1, the European Commission, on the terms set forth in the regulation, has the power to designate, among others, a replacement benchmark if the cessation of the publication or liquidation of a benchmark may result in significant disruption in the functioning of financial markets in the EU.
On March 23, 2021, according to the announcement of the UK’s FCA, the European Commission launched a public consultation regarding designation of the replacement rate for Swiss franc LIBOR.
The consultation is available HERE
We will keep you informed about the further developments concerning the above issue.
You can find the full announcement of the UK’s FCA HERE
The announcement of the Office of the Polish Financial Supervision Authority (KNF) is available HERE
Approval of your loan application and the amount of the loan are subject to your positive credit score assessed by Bank Handlowy w Warszawie S.A.
The above calculations have been made for reference purposes and they do not constitute an offer according to Article 66 of the Civil Code.