Stanowisko UKNF skierowane do Prezesów Zarządów Banków oraz Dyrektorów oddziałów instytucji kredytowych ws. oceny zdolności kredytowej przy udzielaniu kredytów oprocentowanych zmienną i okresowo stałą stopą procentową

The Polish Financial Supervision Authority (KNF) has published a press release to inform about a new position issued by the Authority on the minimum interest rate changes (interest rate buffer rates) financial institutions shall apply in the creditworthiness assessment of variable mortgage loans or of mortgage loans based on a temporarily fixed interest rate to ensure that the level of credit risk is adequately accounted for – in line with the KNF’s Recommendation S.
Specifically, the KNF notes that banks shall apply a minimum change in the interest rate level of 2.5 percentage points in the creditworthiness assessment process for temporarily fixed interest rate loans. The interest rate changes to be assumed on entirely variable loan agreements shall be higher. The KNF also states that these are only minimum changes that should be incorporated in loan agreements with variable terms. In addition, any bank may adopt additional buffers commensurate with its own risk assessment and other loan features.
Due to the current high levels of interest rates and inflation, yet a declining economic growth and the expectations that interest rate will no longer continue to rise, this reduction from previously 5 percentage points seems feasible. However, financial institutions shall be cautious in their credit risk assessment as the high level of inflation has also led to high household expenditures and thus to a higher probability of credit default.