June 7, 2016 / 9:00 AM / 3 years ago

Polish president to present FX loan proposal at 1500 GMT

WARSAW, June 7 (Reuters) - The Polish president’s office will announce an amended proposal for tackling the country’s Swiss franc loan problem at 1500 GMT on Tuesday, the president’s spokesman Marek Magierowski said.

The president’s team has been working on the new plan after its proposal in January spooked investors. Poland’s financial regulator estimated that proposal could cost banks 67 billion zlotys ($17.5 billion).

Poland’s banking sector is 60 percent owned by foreign lenders, with Santander, Commerzbank, BCP , BNP Paribas, and Raiffeisen running local units with Swiss franc mortgage portfolios.

$1 = 3.8299 zlotys Reporting by Pawel Sobczak; Writing by Adrian Krajewski; Editing by Mark Potter

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