Poland : BCBS-IADI Core Principles for Effective Deposit Insurance Systems
During February 19-March 4, 2013 an assessment under the International Monetary Fund (IMF)/World Bank Financial Sector Assessment Program (FSAP) was conducted for the Republic of Poland. Poland's financial system has been expanding rapidly and...
| Main Author: | |
|---|---|
| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
Washington, DC
2014
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/05/18550626/poland-bcbs-iadi-core-principles-effective-deposit-insurance-systems-financial-sector-assessment-program http://hdl.handle.net/10986/16748 |
| Summary: | During February 19-March 4, 2013 an
assessment under the International Monetary Fund (IMF)/World
Bank Financial Sector Assessment Program (FSAP) was
conducted for the Republic of Poland. Poland's
financial system has been expanding rapidly and remains
dominated by banks. The total assets of the financial system
grew from 86 percent of Gross Domestic Product (GDP) in 2005
to 124 percent of GDP in 2012. The banking system is
dominated by a handful of foreign-owned banks. They control
about 65 percent of the sector's assets-a sizeable
proportion, but lower than in the Czech Republic, Hungary,
and Slovakia. The Polish banking system is well capitalized
and liquid. In aggregate, capital adequacy reached 14.7
percent, 90 percent of which is tier capital. Banks'
profits in 2011 and 2012 were historically high, and
regulations restricting dividend payouts aided capital
building. Regulatory and supervisory efforts have helped
improve the resilience of the banking system, but the
economic slowdown will pose some challenges for banks.
Poland's regulatory, supervisory, and resolution
frameworks are influenced by developments at the European
Union (EU) level. As a member of the EU, Poland is obliged
to comply with EU directives when they come into force.
Poland is expected to be in line with the changed EU
Directives on deposit insurance systems, and on the new EU
Directive on bank recovery and resolution. The ongoing
modernization of Poland's financial system and
challenging macroeconomic environment pose challenges to the
supervisory and regulatory system. Accounting and disclosure
regimes support the ability of the supervisor and deposit
insurer to adequately evaluate the health of individual
banks and the banking system as a whole. |
|---|