Monday, January 26, 2015

Loans in Swiss francs are exploding: Even German bank customers pay more – NEWS

Loans in Swiss francs are exploding: Even German bank customers pay more – NEWS


 Monday, January 26, 2015


 The decoupling of the Swiss franc from the euro is not only borrowers in Eastern Europe dearly. In Germany there are apparently more bank customers, the loan was added to Franken, as was previously known.



German bank customers, according to a newspaper report of the decoupling of the Swiss franc significantly more affected by the euro than previously known. But the local cooperative banks awarded in the years before the euro crisis more than 30,000 foreign currency loans, of which the vast majority of federal currency, such as the “Süddeutsche Zeitung” reported.

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foreign currency loans from the Cooperative Institute should have had a circumference of 7.1 billion euros at the height of the development in 2011. The average loan amount accordingly stood at around 150,000 euros.

How large are the total damage for the customers is so far only roughly calculate, writes the paper. Finally, the extent of foreign currency loans to have reached about six billion euros – which accounted for an estimated four to five billion Swiss francs. After the disengagement from the euro currency and thus the loan more expensive last around 20 per cent. In purely mathematical alone could the recent losses amount to up to one billion euros.

The DZ Bank as the central institution of the German cooperative banks last week wanted to losses of customers not comment specifically.

So far, mainly known that many people in Eastern Europe are affected by the franc’s appreciation. In countries such as Hungary or Poland many home loans in Swiss francs base were completed. Many German municipalities have taken franc loans.



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