International intervention regarding the Polish mortgage rate law

The owners of the banks that fall under the Conversion Fund mechanism come from four countries whose diplomats are intervening in the bill: Santander from Spain, Comerzbank from Germany (owner of mBank), Banco Comercial Portugues S.A from Portugal (owner of Millenium) and Raiffeisen from Austria.

The embassies of Germany, Austria, Spain and Portugal want changes to the draft law on Swiss franc loans, as reported by DGP.

According to DGP, the four embassies have sent a joint letter to the head of the public finance committee, Andrzej Szlachet. In the letter, they state that the proposed currency loan restructuring fund (conversion fund) may violate EU principles of freedom of contract, non-retroactivity and proportionality.