Factsheet for case PL-2020-12/834 – measures in Poland
|Country||Poland , applies nationwide|
|Time period||Temporary, started on 16 March 2020|
Measures to prevent social hardship
– Preventing over-indebtedness
|Author||Jan Czarzasty (Warsaw School of Economics) and Eurofound|
|Case created||11 May 2020 (updated 13 May 2020)|
As of May banks associated in the sectoral umbrella organisation, the Union of Polish Banks (Związek Banków POlskich, ZBP) offer their clients with open credit lines and mortgages a opportunity to file for a 'grace period' in paying installements for up to three months. This is the internal decision of the national banking association, which have nothing to do with the public policy measures under debate (as o 11 May).
Komunikat ZBP w sprawie działań pomocowych podejmowanych przez banki w związku z pandemią koronawirusa COVID-19.
Mortgage holders may apply to their respective creditors (banks) for a grace period of up to three months, during which period their monthly payments will be suspended (prolongated). As the measure serves only as a guidelines, each member bank may determine specific conditions of their own. In some banks the suspension/prolongation of payments applies only to capital, in others - extend it also to interest. Some banks stick to the suggested duration of three months, while others extend it to six months. The packages offered by banks are monitored by public authorities in order to prevent 'slipping in' of unfair clauses into the procedures.
According to the data released by ZBP, until the end of April some 800,000 applications have been submitted to the banks.
|Does not apply to workers||Does not apply to businesses||Applies to all citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement||No involvement|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
ZBP is formally not employers' organisation, thus it is not a social partner.
|Economic area||Sector (NACE level 2)|
|K - Financial And Insurance Activities||K64 Financial service activities, except insurance and pension funding|
This case is not occupation-specific.
Eurofound (2020), Optional credit and mortgage freezes, case PL-2020-12/834 (measures in Poland), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.