The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework
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-establi...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/807961468333885401/The-Polish-Bank-insolvency-regime-issues-and-assumptions-paper-for-the-design-of-an-upgraded-bank-resolution-framework http://hdl.handle.net/10986/26838 |
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okr-10986-26838 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO CREDIT ACCOUNTABILITY ACCOUNTING ADEQUATE LEGAL PROTECTION ADMINISTRATIVE ACTIONS ADMINISTRATIVE COSTS ADMINISTRATIVE POWERS ADMINISTRATIVE PROCEDURES ARRANGEMENT WITH CREDITORS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET RATIO ASSET SALES ASSET VALUE ASSET VALUES ASSUMPTION OF LIABILITIES ASSUMPTION TRANSACTIONS AUDITING AUDITS BALANCE SHEET BALANCE SHEET INSOLVENT BALANCE-SHEET INSOLVENT BANK CREDITORS BANK FAILURE BANK INSOLVENCIES BANK INSOLVENCY BANK INSOLVENCY FRAMEWORK BANK INSOLVENCY REGIME BANK INSOLVENCY REGIMES BANK LIABILITIES BANK LIQUIDATION BANK RESTRUCTURING BANK RUN BANKING AUTHORITY BANKING LAW BANKING LAWS BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCIES BANKRUPTCY BANKRUPTCY CASES BANKRUPTCY LAW BANKRUPTCY PETITION BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDINGS BANKS BENEFIT OF CREDITORS BOOK VALUE CAPITAL ADEQUACY CAPITAL INJECTIONS CENTRAL BANKS CIVIL PROCEDURE CLAIM CLAIMANTS COMMERCIAL BANKS COMMERCIAL INSOLVENCY COMMERCIAL INSOLVENCY LAW COMMERCIAL INSOLVENCY LAWS COMPETITOR BANKS CONSOLIDATION CONTRACTUAL ARRANGEMENTS CONTRACTUAL RELATIONSHIPS COOPERATIVE BANKING COOPERATIVE BANKING SECTOR COOPERATIVE BANKS CORPORATE INSOLVENCY CORPORATE INSOLVENCY FRAMEWORK CORPORATE INSOLVENCY LAW CORPORATE INSOLVENCY PROCEEDING COURT PROCEEDINGS CREDIBILITY CREDIT INSTITUTIONS CREDITOR CREDITOR CLAIMS CREDITOR CLASSES CREDITORS DEBT DEBT OBLIGATION DEBTOR DECLARATION OF BANKRUPTCY DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCIES DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE FUND DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE SCHEMES DEPOSITOR DEPOSITORS DEPOSITS DERIVATIVES DISTRESSED BANKS ESTATE FEATURES OF INSOLVENCY LAW FEDERAL DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE CORPORATION FINANCIAL CONTRACTS FINANCIAL INDICATORS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL REGULATION FINANCIAL REPORTING FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FOREIGN BANKS FORMAL BANKRUPTCY GOING CONCERN GOING CONCERN VALUE GOOD FAITH GUARANTEE FUND ILLIQUIDITY IMMINENT INSOLVENCY IMPAIRED ASSETS INSOLVENCY FRAMEWORKS INSOLVENCY PROCEDURE INSTITUTIONAL FRAMEWORK INSUFFICIENT FUNDS INSURED DEPOSITS INTEREST RATES JUDGES JUDICIAL AUTHORITIES JUDICIAL POWERS JUDICIARY JURISDICTIONS LAST RESORT LAWS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL PROTECTION LEGAL REFORM LEGISLATION LIABILITY LIQUIDATION LIQUIDATION OF ASSETS LIQUIDATION PROCEDURES LIQUIDATION STAGE LIQUIDATIONS LIQUIDATOR LOAN LOAN ASSETS LOAN LOSS PROVISIONS MANDATE MARKET DISCIPLINE MARKET PARTICIPANTS MARKET VALUE MORAL HAZARD NEW LEGAL FRAMEWORK NONPERFORMING LOANS NUMBER OF BANK NUMBER OF CREDITORS OFF BALANCE SHEET OPEN BANK OPERATIONAL RISKS ORDINARY BANKRUPTCY PARTIAL TRANSFERS PAYMENT OF CLAIMS PERSONAL LIABILITY PRESENT VALUE PRIORITY OF CREDITOR PRIVILEGED CREDITOR PROCEDURES FOR INSOLVENCY PROFITABILITY PROPERTY RIGHTS PUBLIC FUNDS PUBLIC SERVICES PURCHASE AND ASSUMPTION TRANSACTIONS RECAPITALIZATION RECEIVER RECEIVERSHIP REGULATORY FORBEARANCE REGULATORY FRAMEWORK REGULATORY REPORTS REHABILITATION PLANS REORGANIZATION REORGANIZATION PLANS REORGANIZATION PROCEEDINGS SALARIES SALARY SALES OF ASSETS SETTLEMENT SETTLEMENT SYSTEMS SETTLEMENTS SHAREHOLDER RIGHTS SOLVENT BANKS STATE BANK SUBORDINATED DEBT SUBSIDIARIES SUBSIDIARY SUPERVISORY ACTION SUPERVISORY AUTHORITIES SUPERVISORY POWERS SYSTEMIC RISK TECHNICAL ASSISTANCE TIER 1 CAPITAL TRADITIONAL BANKRUPTCY TRUSTEE TYPES OF DEBT VALUE OF ASSETS VOLUNTARY LIQUIDATIONS WINDING UP WRITE OFFS |
| spellingShingle |
ACCESS TO CREDIT ACCOUNTABILITY ACCOUNTING ADEQUATE LEGAL PROTECTION ADMINISTRATIVE ACTIONS ADMINISTRATIVE COSTS ADMINISTRATIVE POWERS ADMINISTRATIVE PROCEDURES ARRANGEMENT WITH CREDITORS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET RATIO ASSET SALES ASSET VALUE ASSET VALUES ASSUMPTION OF LIABILITIES ASSUMPTION TRANSACTIONS AUDITING AUDITS BALANCE SHEET BALANCE SHEET INSOLVENT BALANCE-SHEET INSOLVENT BANK CREDITORS BANK FAILURE BANK INSOLVENCIES BANK INSOLVENCY BANK INSOLVENCY FRAMEWORK BANK INSOLVENCY REGIME BANK INSOLVENCY REGIMES BANK LIABILITIES BANK LIQUIDATION BANK RESTRUCTURING BANK RUN BANKING AUTHORITY BANKING LAW BANKING LAWS BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCIES BANKRUPTCY BANKRUPTCY CASES BANKRUPTCY LAW BANKRUPTCY PETITION BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDINGS BANKS BENEFIT OF CREDITORS BOOK VALUE CAPITAL ADEQUACY CAPITAL INJECTIONS CENTRAL BANKS CIVIL PROCEDURE CLAIM CLAIMANTS COMMERCIAL BANKS COMMERCIAL INSOLVENCY COMMERCIAL INSOLVENCY LAW COMMERCIAL INSOLVENCY LAWS COMPETITOR BANKS CONSOLIDATION CONTRACTUAL ARRANGEMENTS CONTRACTUAL RELATIONSHIPS COOPERATIVE BANKING COOPERATIVE BANKING SECTOR COOPERATIVE BANKS CORPORATE INSOLVENCY CORPORATE INSOLVENCY FRAMEWORK CORPORATE INSOLVENCY LAW CORPORATE INSOLVENCY PROCEEDING COURT PROCEEDINGS CREDIBILITY CREDIT INSTITUTIONS CREDITOR CREDITOR CLAIMS CREDITOR CLASSES CREDITORS DEBT DEBT OBLIGATION DEBTOR DECLARATION OF BANKRUPTCY DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCIES DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE FUND DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE SCHEMES DEPOSITOR DEPOSITORS DEPOSITS DERIVATIVES DISTRESSED BANKS ESTATE FEATURES OF INSOLVENCY LAW FEDERAL DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE CORPORATION FINANCIAL CONTRACTS FINANCIAL INDICATORS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL REGULATION FINANCIAL REPORTING FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FOREIGN BANKS FORMAL BANKRUPTCY GOING CONCERN GOING CONCERN VALUE GOOD FAITH GUARANTEE FUND ILLIQUIDITY IMMINENT INSOLVENCY IMPAIRED ASSETS INSOLVENCY FRAMEWORKS INSOLVENCY PROCEDURE INSTITUTIONAL FRAMEWORK INSUFFICIENT FUNDS INSURED DEPOSITS INTEREST RATES JUDGES JUDICIAL AUTHORITIES JUDICIAL POWERS JUDICIARY JURISDICTIONS LAST RESORT LAWS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL PROTECTION LEGAL REFORM LEGISLATION LIABILITY LIQUIDATION LIQUIDATION OF ASSETS LIQUIDATION PROCEDURES LIQUIDATION STAGE LIQUIDATIONS LIQUIDATOR LOAN LOAN ASSETS LOAN LOSS PROVISIONS MANDATE MARKET DISCIPLINE MARKET PARTICIPANTS MARKET VALUE MORAL HAZARD NEW LEGAL FRAMEWORK NONPERFORMING LOANS NUMBER OF BANK NUMBER OF CREDITORS OFF BALANCE SHEET OPEN BANK OPERATIONAL RISKS ORDINARY BANKRUPTCY PARTIAL TRANSFERS PAYMENT OF CLAIMS PERSONAL LIABILITY PRESENT VALUE PRIORITY OF CREDITOR PRIVILEGED CREDITOR PROCEDURES FOR INSOLVENCY PROFITABILITY PROPERTY RIGHTS PUBLIC FUNDS PUBLIC SERVICES PURCHASE AND ASSUMPTION TRANSACTIONS RECAPITALIZATION RECEIVER RECEIVERSHIP REGULATORY FORBEARANCE REGULATORY FRAMEWORK REGULATORY REPORTS REHABILITATION PLANS REORGANIZATION REORGANIZATION PLANS REORGANIZATION PROCEEDINGS SALARIES SALARY SALES OF ASSETS SETTLEMENT SETTLEMENT SYSTEMS SETTLEMENTS SHAREHOLDER RIGHTS SOLVENT BANKS STATE BANK SUBORDINATED DEBT SUBSIDIARIES SUBSIDIARY SUPERVISORY ACTION SUPERVISORY AUTHORITIES SUPERVISORY POWERS SYSTEMIC RISK TECHNICAL ASSISTANCE TIER 1 CAPITAL TRADITIONAL BANKRUPTCY TRUSTEE TYPES OF DEBT VALUE OF ASSETS VOLUNTARY LIQUIDATIONS WINDING UP WRITE OFFS Pollner, John D. The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework |
| geographic_facet |
Europe and Central Asia Poland |
| description |
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). |
| format |
Report |
| author |
Pollner, John D. |
| author_facet |
Pollner, John D. |
| author_sort |
Pollner, John D. |
| title |
The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework |
| title_short |
The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework |
| title_full |
The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework |
| title_fullStr |
The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework |
| title_full_unstemmed |
The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework |
| title_sort |
polish bank insolvency regime : issues and assumption paper for the design of an upgraded bank resolution framework |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/807961468333885401/The-Polish-Bank-insolvency-regime-issues-and-assumptions-paper-for-the-design-of-an-upgraded-bank-resolution-framework http://hdl.handle.net/10986/26838 |
| _version_ |
1764462587893776384 |
| spelling |
okr-10986-268382021-04-23T14:04:37Z The Polish Bank Insolvency Regime : Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework Pollner, John D. ACCESS TO CREDIT ACCOUNTABILITY ACCOUNTING ADEQUATE LEGAL PROTECTION ADMINISTRATIVE ACTIONS ADMINISTRATIVE COSTS ADMINISTRATIVE POWERS ADMINISTRATIVE PROCEDURES ARRANGEMENT WITH CREDITORS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET RATIO ASSET SALES ASSET VALUE ASSET VALUES ASSUMPTION OF LIABILITIES ASSUMPTION TRANSACTIONS AUDITING AUDITS BALANCE SHEET BALANCE SHEET INSOLVENT BALANCE-SHEET INSOLVENT BANK CREDITORS BANK FAILURE BANK INSOLVENCIES BANK INSOLVENCY BANK INSOLVENCY FRAMEWORK BANK INSOLVENCY REGIME BANK INSOLVENCY REGIMES BANK LIABILITIES BANK LIQUIDATION BANK RESTRUCTURING BANK RUN BANKING AUTHORITY BANKING LAW BANKING LAWS BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCIES BANKRUPTCY BANKRUPTCY CASES BANKRUPTCY LAW BANKRUPTCY PETITION BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDINGS BANKS BENEFIT OF CREDITORS BOOK VALUE CAPITAL ADEQUACY CAPITAL INJECTIONS CENTRAL BANKS CIVIL PROCEDURE CLAIM CLAIMANTS COMMERCIAL BANKS COMMERCIAL INSOLVENCY COMMERCIAL INSOLVENCY LAW COMMERCIAL INSOLVENCY LAWS COMPETITOR BANKS CONSOLIDATION CONTRACTUAL ARRANGEMENTS CONTRACTUAL RELATIONSHIPS COOPERATIVE BANKING COOPERATIVE BANKING SECTOR COOPERATIVE BANKS CORPORATE INSOLVENCY CORPORATE INSOLVENCY FRAMEWORK CORPORATE INSOLVENCY LAW CORPORATE INSOLVENCY PROCEEDING COURT PROCEEDINGS CREDIBILITY CREDIT INSTITUTIONS CREDITOR CREDITOR CLAIMS CREDITOR CLASSES CREDITORS DEBT DEBT OBLIGATION DEBTOR DECLARATION OF BANKRUPTCY DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCIES DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE FUND DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE SCHEMES DEPOSITOR DEPOSITORS DEPOSITS DERIVATIVES DISTRESSED BANKS ESTATE FEATURES OF INSOLVENCY LAW FEDERAL DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE CORPORATION FINANCIAL CONTRACTS FINANCIAL INDICATORS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL REGULATION FINANCIAL REPORTING FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FOREIGN BANKS FORMAL BANKRUPTCY GOING CONCERN GOING CONCERN VALUE GOOD FAITH GUARANTEE FUND ILLIQUIDITY IMMINENT INSOLVENCY IMPAIRED ASSETS INSOLVENCY FRAMEWORKS INSOLVENCY PROCEDURE INSTITUTIONAL FRAMEWORK INSUFFICIENT FUNDS INSURED DEPOSITS INTEREST RATES JUDGES JUDICIAL AUTHORITIES JUDICIAL POWERS JUDICIARY JURISDICTIONS LAST RESORT LAWS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL PROTECTION LEGAL REFORM LEGISLATION LIABILITY LIQUIDATION LIQUIDATION OF ASSETS LIQUIDATION PROCEDURES LIQUIDATION STAGE LIQUIDATIONS LIQUIDATOR LOAN LOAN ASSETS LOAN LOSS PROVISIONS MANDATE MARKET DISCIPLINE MARKET PARTICIPANTS MARKET VALUE MORAL HAZARD NEW LEGAL FRAMEWORK NONPERFORMING LOANS NUMBER OF BANK NUMBER OF CREDITORS OFF BALANCE SHEET OPEN BANK OPERATIONAL RISKS ORDINARY BANKRUPTCY PARTIAL TRANSFERS PAYMENT OF CLAIMS PERSONAL LIABILITY PRESENT VALUE PRIORITY OF CREDITOR PRIVILEGED CREDITOR PROCEDURES FOR INSOLVENCY PROFITABILITY PROPERTY RIGHTS PUBLIC FUNDS PUBLIC SERVICES PURCHASE AND ASSUMPTION TRANSACTIONS RECAPITALIZATION RECEIVER RECEIVERSHIP REGULATORY FORBEARANCE REGULATORY FRAMEWORK REGULATORY REPORTS REHABILITATION PLANS REORGANIZATION REORGANIZATION PLANS REORGANIZATION PROCEEDINGS SALARIES SALARY SALES OF ASSETS SETTLEMENT SETTLEMENT SYSTEMS SETTLEMENTS SHAREHOLDER RIGHTS SOLVENT BANKS STATE BANK SUBORDINATED DEBT SUBSIDIARIES SUBSIDIARY SUPERVISORY ACTION SUPERVISORY AUTHORITIES SUPERVISORY POWERS SYSTEMIC RISK TECHNICAL ASSISTANCE TIER 1 CAPITAL TRADITIONAL BANKRUPTCY TRUSTEE TYPES OF DEBT VALUE OF ASSETS VOLUNTARY LIQUIDATIONS WINDING UP WRITE OFFS 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). 2017-06-01T22:06:18Z 2017-06-01T22:06:18Z 2012-07 Report http://documents.worldbank.org/curated/en/807961468333885401/The-Polish-Bank-insolvency-regime-issues-and-assumptions-paper-for-the-design-of-an-upgraded-bank-resolution-framework http://hdl.handle.net/10986/26838 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work Europe and Central Asia Poland |