NBS "looking for solution" to Swiss franc loans

NBS "looking for solution" to Swiss franc loans

BELGRADE -- The National Bank of Serbia announced on Monday that it would "strive to find a swift solution to help citizens with loans in Swiss francs," Beta reported.

They are now "in dire straits after the Swiss currency surged suddenly."

The central bank "will endeavor to find the solution for Swiss franc loans in a dialog with the representatives of the government, banks, the Bank Association and all other responsible institutions and organizations, reviewing all possible measures and their effects," a press release read.

According to the NBS, all "ready-made" solutions mentioned by civic associations and some others in recent days, as a rule entail transferring the risk, and thereby the expense, from the loan users to the banks, the central bank, or the state.

"Fixing the rate at RSD 102 for one Swiss franc, which means eliminating currency risk for the users of these loans, does not just spell costs for banks, but it is not fair to the loan users who were more cautious at the outset and took their loans in euros, because they remain exposed to the currency risk they assumed consciously," the central bank said.