NLB's response to the decision of the Constitutional Court to suspend the Law on limitation and distribution of foreign exchange risk between creditors and borrowers concerning loan agreements in Swiss francs

“We believe that the Constitutional Court will establish the inconsistency of the Law with the Constitution and annul it in its entirety. In NLB, which together with eight other banks filed an initiative to review the constitutionality of the Law, we have repeatedly emphasized that the Law is unconstitutional in several respects, as it retroactively interferes with valid contractual relations, as well as violates the principles of legal security, equality, the right to private property and to free economic initiative. In addition, the Law is contrary to the EU’s acquis,” commented NLB’s CEO Blaž Brodnjak.