In two weeks, the platform for regulating loans in Swiss Francs will open, allowing borrowers to apply for restructuring of their loans until August 19, 2026.
The Greek government is set to launch a platform aimed at regulating loans in Swiss Francs within two weeks. This initiative will cover all Swiss Franc loans, including both those active in banks' portfolios and those securitized under the "Hercules" plan. Borrowers are encouraged to prepare for this opportunity, as the government has set a timeline where applications for restructuring will start being accepted from February 19, with a deadline set for August 19, 2026.
Financial institutions have begun reaching out to borrowers to inform them about the restructuring options available and the necessity to submit a related application through the designated electronic platform managed by the Ministry of National Economy and Finance's General Secretariat for Financial Sector and Private Debt Management. This platform will assess eligible borrowers against the set criteria and issue a confirmation to creditors to facilitate the restructuring process.
As restructuring options are being prepared, this initiative reflects the government's response to challenges faced by borrowers holding loans in Swiss Francs, potentially offering them relief from unfavorable loan terms that have arisen due to currency fluctuations. The effectiveness of this platform and the uptake among borrowers will likely determine the overall impact on the financial landscape in Greece, particularly regarding the handling of foreign currency loans.
