The banking associations expressed their disagreement with the resolution since it “generates serious legal uncertainty, distorts contractual relations and undermines trust.”
This Friday, bank businessmen expressed their concern about a ruling that, in their view, puts the normal functioning of mortgage loans in Argentina at risk.. The main reference is the recent resolution of the Federal Chamber of Posadas before the “Azzimonti case”although they assured that it also covers other similar demands related to UVA credits.
The entities represented by ABA (Association of Banks of Argentina), ABE (Association of Specialized Banking), ADEBA (Association of Argentine Banks) and ABAPPRA (Association of Public and Private Banks of the Argentine Republic), highlighted that this ruling declared the nullity of “essential clauses for any credit contract such as those of the object, amount of the credit, amortization of capital, currency of payment”.
Thus, “generate serious legal uncertainty, distort contractual relationships and undermine trust in the credit tool by questioning the validity of contracts in accordance with current legislation and regulations of the Central Bank (BCRA). “Without a doubt, this type of rulings will discourage the granting of mortgage loans, especially in Misiones, and will impact the access and cost of credit for all banking clients“, they warned.
On the other hand, they indicated, “the judicial decision generates an asymmetry in the contractual relationship that imposes a perpetual subsidy for the favored debtor, to the detriment of depositors and limits access to housing for Argentine families”, in a context in which a housing deficit of four million homes is estimated.
The banking associations recalled that, according to the BCRA itself, Payment problems in UVA mortgage loans are marginal, representing less than 1% of the total of the credits granted.
Faced with the aforementioned situation, the banks They requested a thorough review of this ruling and highlighted their “commitment to the search for fair and equitable solutions to continue promoting the general well-being and access to housing for millions of Argentine families.”
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
