Kozarić: We want to be part of the dialogue to permanently resolve the issue of Swiss franc loans

Governor of the Central Bank of BiH Kemal Kozarić responded in his letter to the invitation of the association "Franak" for a meeting to discuss options for those whose loans are tied to the Swiss franc, reports the BiH news agency Patria.

- As the Governor of the Central Bank, I am aware of the consequences that the latest change in the exchange rate of the Swiss franc has on the citizens of Bosnia and Herzegovina who have and service loans with a currency clause in CHF and who are currently in a truly difficult position. Therefore, I want to inform you that the Central Bank of Bosnia and Herzegovina, as an institution whose primary goal is monetary and financial stability, is ready to participate in the meeting and mediate in order to find a solution that would satisfy all parties and provide a certain degree of security to users of CHF loans. However, I must point out that a concrete solution can only be made with the agreement of the commercial bank and its clients, as well as banking agencies, which are the only bodies that can issue instructions and control the work of banks.

Kozarić further explains that the Central Bank of Bosnia and Herzegovina, in accordance with the Law on the Central Bank, does not have direct responsibility for banking supervision, which means it cannot issue measures or orders, nor influence the general credit policy of commercial banks. Likewise, through the mandate of implementing monetary policy, the Central Bank of Bosnia and Herzegovina is responsible for the exchange rate of the convertible mark, while any correction of the CHF exchange rate is exclusively a matter of intervention by the Swiss National Bank. However, regardless of the limited possibilities, we want to be part of the dialogue that will result in a permanent solution to this problem. As the chairman of the Financial Stability Committee (which cannot prescribe measures, but can give recommendations to all involved in the process), I am ready to convene it when we have concrete proposals for the relaxation of the aforementioned situation, because my position is that the primary interest of the bank is that obligations are serviced, and their social responsibility is to establish a partnership with their clients and, together with banking agencies, offer acceptable solutions - said Kozarić.