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Report: Croatian court rejects call to assess franc loan-conversion law

Croatia's Constitutional Court on April 7 dismissed a request by eight local lenders to consider whether a law requiring banks to convert Swiss franc-denominated loans into euros was unconstitutional.

Head of the court Miroslav Separovic said the law was necessary at the time "to achieve a legitimate goal," Reuters reported the same day.

The law was introduced in late 2015 to protect buyers from increasing payments due to exchange movements. The ECB said at the time that the law could threaten financial stability in Croatia by trimming its international reserves.