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23 November, 2014 Sunday
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Banking sector - monthly data

The PFSA presents on the website: Banking sector - ordinary data 09/2014

Request for Information - Inspection Support System

We would like to inform that Urząd Komisji Nadzoru Finansowego (Polish Financial Supervision Authority – PFSA) invites all interested entities to participate in a Request for Information (RFI) process regarding the Inspection Support System that PFSA is planning to implement. PFSA has been working on implementation of the Inspection Support System for the banking supervision area.

Results of the comprehensive assessment of banks in Poland

The Polish Financial Supervision Authority (KNF) publishes the results of the advanced asset quality review with reference date of December 31st 2013 conducted in accordance with the European Central Bank’s (ECB) methodology and stress tests results of 15 major banks from Poland.

The aim of the exercise was to assess the Polish banking sector  in comparison with the banks from the eurozone. The range of the exercise (15 banks covering 79% of commercial banks’ assets; in each bank at least 50% of the risk-weighted assets was subject to analysis; total value of examined exposures amounted to 82 billion PLN or 59% of RWA) and full implementation of the ECB’s methodology was KNF’s own initiative that makes Poland unique among non-euro area Member States. What’s more, KNF was the only banking supervisor in the EU that had in its disposal inspection resources to carry out AQR on its own.   

The results of the exercise, with December 31st 2013 as a reference date, are no surprise to KNF. Generally the analysis confirmed that the banking sector in Poland is stable and reliable, which guarantees safety to its customers.  The absolute majority of examined banks significantly exceeded the expected levels of CET1 ratio, both for AQR and stress tests (in baseline and adverse scenarios). In case of 2 banks CET1 ratios fell slightly below the expected levels, but the overall theoretical capital shortfall is marginal and accounts for 0,35% of the sector’s Common Equity Tier 1. In both cases actions resulting in raising CET1 were already taken after the reference date, i.e. the shares were issued and the profits already made this year were, upon KNF’s approval, recognized as capital, so capital positions of these 2 banks were additionally boosted. 

Quarterly Bulletin. Insurance market 2/2014

The PFSA presents on the website the latest publication Quarterly Bulletin. Insurance market 2/2014 .

Quarterly Bulletin. Pension funds 2/2014

The PFSA presents on the website publication Quarterly Bulletin. Pension funds 2/2014


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Dictionary

The accounts of OPF members
Individual accounts held at the open funds for their members, where the contributions are paid in the amount and on terms established in separate laws. On accession to a fund, the fund opens an account for the new member to which contributions and transfer payments are paid.
Insurance risk
Commonly understood as an event covered with an insurance; more precisely - the probability of such event taking place.
Payment Services Office
A natural person, a legal person and an organisation unit, which is not a legal person and which, according to the law on payment services, ensures legal capacity to act, which provides payment services to the maximum value of 500 000 EUR a month.
The second pillar of Polish pension system
The mandatory capital part of the pension system, including open pension funds, which are managed by private operators - general pension societies. Similar to the first pillar - the contributions to the second pillar are mandatory (for anyone born after 31 December 1948), but it is possible to choose another fund among those operating on the market. It is also possible to change a fund into another one. An important difference, compared to the first pillar, is that the resources collected in this pillar are invested and may be inherited. The operation of pension funds is subject to detailed provisions and state supervision. The second pillar receives 7,3% of the basic contribution.
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