The Constitutional Court annules the Law on limitation and distribution of foreign exchange risk between creditors and borrowers concerning loan agreements in Swiss francs
14th December 2022
Pursuant to the Rules of the Ljubljana Stock Exchange and Article158 of the Market in Financial Instruments Act, relating to the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana announces:
The Constitutional Court of the Republic of Slovenia announced today, on December 14, 2022, its decision in the proceedings for the constitutionality assessment of the Law on limitation and distribution of foreign exchange risk between creditors and borrowers concerning loan agreements in Swiss francs (the "Law"), initiated by several banks, including NLB d.d. The Constitutional Court decided that the Law is annulled.
The Slovenian Parliament passed the Law on February 2, 2022, disregarding the negative opinions of the Slovenian Government, the legislative and legal service of the Slovenian National Assembly and the European Central Bank; and the Constitutional Court unanimously adopted a decision in March to suspend in whole its implementation.