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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 362.31

-1.8%

Nov 4 4:00 PM EST

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To: Elroy Jetson who wrote (109759)	1/16/2015 10:27:00 PM
From: Snowshoe	Read Replies (1) of 217541

I heard about the Swiss franc mortgages on the radio today. The problem varies by country... Eastern European Currencies Dive as Swiss Loan Costs Hurt Banks bloomberg.com Regulators have sought to wean eastern European banks off foreign-currency loans since the practice pushed some countries to the verge of default during the credit crisis. The effort has been most pronounced in Hungary, which last year ordered $14 billion of foreign-currency household mortgages be converted into forint as part of a drive by Prime Minister Viktor Orban to reduce exposure to currency swings. In Romania, less than 5 percent of total lending is denominated in Swiss francs after the central bank urged lenders and citizens in the past four years to refinance their loans into lei. ***** The situation is more precarious in Poland since that switch is less advanced. Lenders had 131 billion zloty ($35 billion) of Swiss-franc mortgages on their books as of the end of November, 46 percent of total home loans, according to data from the country’s financial-market supervisor.

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