Smiles on bankers' faces

Good news for mortgage banks. At the end of May, a draft of the Mortgage Bank and Bonds Act was approved by the Senate. The Act is currently awaiting the President's signature. Two years after the establishment of the first mortgage bank in Poland, it looks like this sector is finally developing. Not only does the Act extend the scope of mortgage banks, but it also gives to them new opportunities. Will borrowers benefit from all is? Bank directors certainly seem happy with the Act so far. Gabriel Główka, President of Śląski Bank Hipoteczny: ,My opinion of the Act is very positive. It increases the options of mortgage banks as far as the sale of banking products is concerned, and, without violating the security of banks and mortgage bonds issued by them, it enables operation in new sectors." ,As soon as the Act comes into effect (which will most probably be after the summer holidays - editor's note), mortgage banks will be able to grant loans to local distri