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The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework. / John D Pollner.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Pollner, John D.
- Series:
- Other Financial Sector Study
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Accountability.
- Accounting.
- Administrative Costs.
- Administrative Procedures.
- Asset Management.
- Audits.
- Banking Sector.
- Bankruptcy.
- Bankruptcy and Resolution of Financial Distress.
- Central Banks.
- Commercial Banks.
- Credibility.
- Debt.
- Deposit Insurance.
- Finance and Financial Sector Development.
- Financial and Private Sector Development.
- Financial Institutions.
- Financial Regulation.
- Financial Regulation & Supervision.
- Financial Services.
- Financial Stability.
- Foreign Banks.
- Interest Rates.
- Judiciary.
- Legal Reform.
- Legislation.
- Moral Hazard.
- Other Financial and Private Sector Development.
- Profitability.
- Property Rights.
- Receivership.
- Settlement Systems.
- Standards and Financial Reporting.
- Systemic Risk.
- Technical Assistance.
- Local Subjects:
- Accountability.
- Accounting.
- Administrative Costs.
- Administrative Procedures.
- Asset Management.
- Audits.
- Banking Sector.
- Bankruptcy.
- Bankruptcy and Resolution of Financial Distress.
- Central Banks.
- Commercial Banks.
- Credibility.
- Debt.
- Deposit Insurance.
- Finance and Financial Sector Development.
- Financial and Private Sector Development.
- Financial Institutions.
- Financial Regulation.
- Financial Regulation & Supervision.
- Financial Services.
- Financial Stability.
- Foreign Banks.
- Interest Rates.
- Judiciary.
- Legal Reform.
- Legislation.
- Moral Hazard.
- Other Financial and Private Sector Development.
- Profitability.
- Property Rights.
- Receivership.
- Settlement Systems.
- Standards and Financial Reporting.
- Systemic Risk.
- Technical Assistance.
- Other Title:
- Polish Bank Insolvency Regime
- Place of Publication:
- Washington, D.C. : The World Bank, 2012.
- System Details:
- data file
- Summary:
- The bank insolvency framework in Poland should be modernized to ensure financial stability, maintain the continuity of critical functions in the banking system, and protect depositors and creditors, while assigning losses according to a pre-established creditor hierarchy. Several country experiences in Europe and elsewhere have demonstrated the effectiveness of new bank resolution measures by the European commission. A key aspect of the resolution process is for the authorities to swiftly assess and revalue the balance sheet of the intervened bank. Other particularities of modern resolution procedures relate to maintaining the integrity of secured financial contracts to prevent disruptions in financial market transactions including in payments and settlements systems. The treatment of systemically important institutions should rely on extraordinary resolution tools which are necessary if a bank is too large to be purchased or for its liabilities to be readily assumed. The purpose of this paper is thus to describe and recommend new features that can be added to strengthen the Polish legislation for handling commercial bank insolvencies. The paper focuses on the legal issues related to insolvency of banks (including commercial banks and cooperative banks). The banking sector's share in the total assets of the credit sector amounts to 89 percent while cooperative banks control 6 percent. The only wholly-owned state bank is the development bank Bank Gospodarstwa Krajowego (BGK) which is subject to supervision by the Polish Financial Supervisory Authority (KNF).
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