Kontrowersje w postrzeganiu kredytów w walutach obcych w Polsce i ich weryfikacja w ujęciu ekonomiczno-finansowym

Abstract

Controversies in the perception of foreign currency loans in Poland as well as their verification from the economic and financial perspective

This article is devoted to the verification of the following seven popular opinions on the foreign currency loans in Poland: I banks create money out of nothing; II the banks that were granting foreign currency loans did not actually possess the foreign currencies; III the banks possessed foreign currencies, but only for the loans denominated in foreign currencies, and not for the ones indexed in them; IV the banks that were granting foreign currency loans made a profit on the appreciation of these currencies; V a conversion of foreign currency loans at the exchange rate from the day of granting the loan would not entail high costs for the banking sector; VI it was unjustified to use the foreign exchange spreads by the banks that were granting the foreign currency loans; VII the foreign exchange spreads used by the banks were excessive, which means that the banks obtained an undue profit on them. The author critically evaluates these opinions and on the basis of current economic and financial knowledge, concludes that they are wrong.