The law provides that the conversion should be done using the official exchange rate which was valid on the day of taking out loans plus 8.2% interest. The conversion should be finished in the next 30 days, and new contracts should be signed in 45 days.
The Central Bank is in charge of supervision of the Law implementation.
Hypo Bank has announced that they will inform their clients on all the details after receiving closer instructions from the CBCG.
