The Polish parliament is considering a bill to help Swiss franc
borrowers, Reuters has said.
The loan was issued in Swiss francs
, but the plaintiffs claim that the conversion to another currency was made unbeknownst to them, based on a power of attorney they had concluded with a Cypriot lawyer.
As per the latest data, the total Indian money held in Swiss banks at the end of 2014 included 1,776 million Swiss franc
or Rs 12,350 crore held directly by Indian individuals and entities (down from 1,952 million a year ago), and another 38 million Swiss franc
(down from 77.
Vienna -- The surging Swiss franc
has dealt a double blow to homeowners in Austria, home of the trend for borrowing in the Swiss currency that has devastated mortgage holders across eastern Europe.
This includes a double charge of 202 million Swiss francs
of the US Branded Prescription Drug fee, following final regulations issued by the Internal Revenue Service, which advanced the timing of recording the liability.
Without the hedging strategy, investors wouldn't have been protected when the rand value of the Swiss franc
66 percent of all credits in the country are tied to the Swiss franc
Currency speculators, particularly large hedge funds with short positions in the Swiss franc
, are staring massive losses in the face.
The bank's overall net profit rose to 454 million Swiss francs
At the time, the Swiss National Bank viewed monetary conditions as inappropriately restrictive, despite strong money growth and recent declines in short-term interest rates, because the Swiss franc
had been appreciating sharply against the euro since the fall of 2007 (AR 2009, p.
As part of the issuance, African Bank has executed a cross currency hedge, swapping all Swiss Franc
coupon and principal flows into South African rand.
1 billion Swiss francs
for a 10 percent shareholding in Credit Suisse, amounting to an average price of around 41 Swiss francs