Regulatory Alerts2019-06-06
Added · Updated
Law on the Conversion of Housing Loans Indexed to Swiss Francs
The Republic of Serbia enacted this law to mandate the conversion of housing loans indexed to Swiss Francs into Euro-indexed debt for natural persons. Banks are required to reduce the remaining principal and interest by 38% and apply specific interest rate caps while bearing all conversion costs, with the state reimbursing 15% of the converted amount. The legislation suspends ongoing enforcement procedures and establishes a framework for tax treatment and National Bank of Serbia supervision to facilitate the transition.
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