On 31 December 2021 the amended Regulations on Providing Credit Risk Bearing Products will come into force.
The most important amendments include:
- changes resulting from the Benchmark Regulation (BMR) and the introduction of risk-free rates (RFRs)*:
- we added the terms ON RFR and compounded RFR in the definition of Base Rate,
- we added provisions explaining how we use Base Rates based on compounded RFRs for loans and discounted products,
- we modified the way we inform borrowers and debtors of the Bank securing the loan collateral of changes in interest rates,
- we added Appendix No. 2 “Calculation of interest on loans and discounted products using compounded ON RFRs”.
- we described the consequences of violating the Act of 1 March 2018 on Counteracting Money Laundering and Terrorism Financing by the Customer or the Debtor.
- we defined the date of concluding the Agreement in electronic form.
- we also clarified certain other provisions; for a list of amended provisions and the amended wording of the Regulations valid as of 31 December 2021, go to: https://www.mbank.pl/pomoc/dokumenty/msp-korporacje/finansowanie/.
*For more information go to: https://www.mbank.pl/pomoc/akty-prawne/wskazniki.