Financial Sector Assessment : Poland

Financial Sector Assessment : Poland

Diversifying Poland's financial system to meet new demands while preserving its resilience and stability is the key task ahead for financial policymakers. Over the past decade, the financial system has grown rapidly and risks have been well ma...

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Bibliographic Details
Main Authors:	World Bank, International Monetary Fund
Format:	Financial Sector Assessment Program (FSAP)
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ASSET CLASS ASSET CLASSES ASSET PRICES ASSET QUALITY BACKED SECURITIES BALANCE SHEET BALANCE SHEETS BANK BALANCE SHEETS BANK CREDIT BANK DEBT BANK GUARANTEE BANKING CRISIS BANKING SECTOR BANKING SECTOR ASSETS BANKING SECTORS BANKING SYSTEM BANKING UNION BANKRUPTCY BOND BOND INVESTOR BOND MARKET BOND MARKETS BONDS BORROWER CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL REQUIREMENTS CENTRAL BANKS COLLECTIVE INVESTMENT COMMERCIAL BANK COMMERCIAL BANK ASSETS COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL MORTGAGE CONFLICTS OF INTEREST CONSOLIDATION PROCESS CONSUMER LOAN CONSUMER LOANS CONSUMER PROTECTION COOPERATIVE BANKS CORPORATE GOVERNANCE CORPORATE STOCK CREDIBILITY CREDIT BUREAU CREDIT EXPANSION CREDIT GROWTH CREDIT INSTITUTIONS CREDIT LINE CREDIT QUALITY CREDIT RISK CREDIT UNION CREDIT UNIONS CREDITOR CREDITOR CLAIMS CREDITOR RIGHTS CREDITORS CURRENCY CURRENCY MATCHING CURRENCY MISMATCHES DEBT DEBT INSTRUMENTS DEBT SECURITIES DEBTOR DEPOSIT DEPOSIT INSURANCE DEPOSITOR DEPOSITORS DEPOSITS DIRECT INVESTMENT DOMESTIC BANKS DOMESTIC BOND DOMESTIC BOND MARKETS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKETS DOMESTIC INSTITUTIONAL INVESTORS DOMESTIC LIQUIDITY DOMESTIC MARKETS ECONOMIC DEVELOPMENT EXCHANGE COMMISSION EXPENDITURE EXTERNAL DEBT EXTERNAL INVESTORS FINANCIAL ASSETS FINANCIAL CONTAGION FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SAVINGS FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FINANCING REQUIREMENTS FLOATING EXCHANGE RATE FORECLOSURE FORECLOSURE PROCEDURES FORECLOSURES FOREIGN BANKS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS GOVERNANCE ISSUES GOVERNMENT BOND GOVERNMENT BOND YIELD GOVERNMENT BONDS GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDINGS HOST COUNTRY INDEBTEDNESS INFLATION INFORMATION TECHNOLOGY INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE CORPORATION INSURANCE PREMIUMS INTEREST INCOME INTEREST RATE INTEREST RATE SWAPS INTEREST RATES INTERNAL AUDITS INTERNATIONAL STANDARDS INVESTMENT STRATEGIES INVESTOR BASE ISSUANCE JUDICIAL SYSTEM LEGAL FRAMEWORK LEGAL PROTECTION LEGAL PROTECTIONS LEGAL SYSTEM LIABILITY LIABILITY MANAGEMENT LIQUIDATION LIQUIDITY LIQUIDITY PROBLEMS LOAN LOAN PORTFOLIO LOAN PORTFOLIOS LONG-TERM CAPITAL LOSS OF CONFIDENCE MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MANDATORY PENSION FUNDS MARKET INSTRUMENTS MARKET SHARE MARKET STRUCTURE MARKET SUPERVISION MATURITIES MATURITY MONETARY POLICY MORTGAGE MORTGAGE LOAN MORTGAGE LOANS MORTGAGE MARKET MORTGAGES MUNICIPAL BONDS MUTUAL FUNDS NATIONAL BANK NATIONAL DEBT NATIONAL SAVINGS NON-PERFORMING LOAN NONPERFORMING LOANS NPL OPEN MARKET OPERATIONAL INDEPENDENCE OUTSTANDING STOCK PENSION PENSION FUND PENSION FUNDS PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSIONS PORTFOLIO PORTFOLIO INFLOWS PORTFOLIOS PRUDENTIAL REGULATIONS PRUDENTIAL SUPERVISION PUBLIC DEBT RATES OF INTEREST REAL ESTATE COLLATERAL REGULATORY CONSTRAINTS RESERVE RESERVES RESIDENTIAL MORTGAGE RESIDENTIAL MORTGAGES RISK FACTOR RISK FACTORS RISK MANAGEMENT RISK PROFILE SAFETY NET SAFETY NETS SALE OF STOCKS SECURITIES SECURITIES MARKET SECURITY INTERESTS SHARE OF ASSETS SHAREHOLDER SOLVENCY SOVEREIGN BOND STOCK EXCHANGE SUPERVISORY AGENCY SUPERVISORY AUTHORITY SUPERVISORY BOARD SUPERVISORY POWERS TAX TERRORISM TRANSFER OF SECURITY TRANSPARENCY TREASURY TREATY TRUSTEES TURNOVER UNIVERSAL BANKS VALUATIONS
Online Access:	http://documents.worldbank.org/curated/en/2014/01/19096463/poland-financial-sector-assessment http://hdl.handle.net/10986/17355

Description
Summary:	Diversifying Poland's financial system to meet new demands while preserving its resilience and stability is the key task ahead for financial policymakers. Over the past decade, the financial system has grown rapidly and risks have been well managed along the way. To maintain this track record and supply the financial services needed to support the economy's growth, it will be important to develop nonbank financial intermediation, prepare for possible further consolidation and exit of financial institutions, especially cooperatives, credit unions (SKOKs), and small banks, and promote a competitive banking system, relying less on foreign funding. While these developments will be largely market driven, they need to be supported by enabling regulatory reform and the modernization of the financial oversight framework: supervision focused on risk management, including an independent systemic risk perspective, strong safety nets, and state-of-the-art resolution tools will be indispensable. A joint IMF-World Bank mission visited Poland from February 19 - March 6, 2013 to undertake an update of the Financial Sector Assessment Program (FSAP) conducted in 2006. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities, and provides policy recommendations.

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