10 facts about the correction

Here are 10 facts about the correction:

1. The correction is about fairness and justice, ensuring that borrowers who experienced a breach of conditions following the crash get their inflated loans corrected.

2. The correction will improve the welfare of households, reduce the debt burden, and increase the disposable income of the family.

3. The total scope of the correction and the personal pension route amounts to around 150 billion for households in the country.

4. Over 90% of homes with inflation-indexed mortgages applied for correction. This high participation confirms that the nation agreed that there was a need to correct inflation-indexed mortgages following the financial crisis that hit.

5. The implementation of the correction is on schedule, and the citizens will see the recalculation of their loans in the autumn months.

6. Nearly half of the funds go to households with an income under 6 million annually. That is, for example, a household where two individuals each earn under 250 thousand in monthly wages.

7. About 60% of the funds go to households with an income under 8 million annually. That is, for example, a household where two individuals each earn under 335 thousand in monthly wages.

8. The bank tax, which equals the amount of the correction, was multiplied, and the exemption for bankruptcy estates was removed. Thus, for the first time, a tax is imposed on the bankruptcy estates of the fallen banks. Of course, the tax goes into the treasury and the correction out of the treasury accordingly; it is a natural process.

9. The correction is a general measure and is more evenly distributed across income groups than previous solutions.

10. The EFTA Surveillance Authority (ESA) has announced that it will monitor the implementation of the correction to see if it constitutes state aid to banks. That is absolutely not the case. It is aimed that neither profit nor loss will be created for the contracting parties due to the payment of the correction part of the loan.

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