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In what sense? The rules are the same, there will be high interest rates (because there is hyperinflation) but 19% interest will be deducted for tax so you will be falling further and further behind inflation. But I don't know that there were any restrictions on the amount of inflation in the issue letters.
In what sense? The rules are the same, there will be high interest rates (because there is hyperinflation) but 19% interest will be deducted for tax so you will be falling further and further behind inflation. But I don't know that there were any restrictions on the amount of inflation in the issue letters.
Machine translated
- In the case of IZ0823, the method of calculating the indexation is contained in Appendix No. 1 to the letter of issue No. 28/2008.
For COI0427 and EDO0433 according to the relevant letter of issue:
"The interest rate from the second to the fourth/tenth interest period is calculated on the basis of the growth rate of prices of consumer goods and services, adopted for 12 months and announced by the President of the Central Statistical Office in the month preceding the first month of a given interest period, increased by a fixed margin (.. .)"
"Method of calculating the interest rate from the second to the tenth interest period" - are included in the relevant attachments no. 1 to the relevant issue letters.During the term of the bonds, interest coupons will be paid (COI) or capitalized (EDO) until hyperinflation (e.g. 100, 200, 1000% per annum) will be at a level that will force the State Treasury to declare insolvency. (credit risk). Even after this fact, the bondholder has the right to demand performance of the performance resulting from the possession of the bond.
Only the issuer's bankruptcy and failure to recognize the claim by his legal successor leads to the practical materialization of the scenario of losing the nominal value of invested funds (issuer's risk).Currently, there is an extremely low risk of Poland's bankruptcy and a small risk of inflation galloping to uncontrollable levels (hyperinflation), so I have no reason to assume that a scenario in which hyperinflation will materialize will threaten the existence of this type of retail bonds.
- In the case of IZ0823, the method of calculating the indexation is contained in Appendix No. 1 to the letter of issue No. 28/2008.
For COI0427 and EDO0433 according to the relevant letter of issue:
"The interest rate from the second to the fourth/tenth interest period is calculated on the basis of the growth rate of prices of consumer goods and services, adopted for 12 months and announced by the President of the Central Statistical Office in the month preceding the first month of a given interest period, increased by a fixed margin (.. .)"
"Method of calculating the interest rate from the second to the tenth interest period" - are included in the relevant attachments no. 1 to the relevant issue letters.During the term of the bonds, interest coupons will be paid (COI) or capitalized (EDO) until hyperinflation (e.g. 100, 200, 1000% per annum) will be at a level that will force the State Treasury to declare insolvency. (credit risk). Even after this fact, the bondholder has the right to demand performance of the performance resulting from the possession of the bond.
Only the issuer's bankruptcy and failure to recognize the claim by his legal successor leads to the practical materialization of the scenario of losing the nominal value of invested funds (issuer's risk).Currently, there is an extremely low risk of Poland's bankruptcy and a small risk of inflation galloping to uncontrollable levels (hyperinflation), so I have no reason to assume that a scenario in which hyperinflation will materialize will threaten the existence of this type of retail bonds.
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