Where the guarantee condition has been fulfilled, the Bank Guarantee Fund disburses the guaranteed funds up to the statutory specified amount.
The fulfilment of guarantee condition is contingent upon:
- in the event of a bank – the suspension of the bank’s operations by the Polish Financial Supervision Authority and the establishment of receivership (unless it had been established before) and the submission by the PFSA of a petition to the Bank Guarantee Fund to declare the bank bankrupt or the submission of an application for bankruptcy of the bank by the Bank Guarantee Fund under the recovery and resolution,
- in the event of a cooperative credit and savings union – suspension of credit union operations by the Polish Financial Supervision Authority and the establishment of receivership (unless it had been established before) and the submission by the PFSA of an application to the Bank Guarantee Fund to declare the credit union bankrupt or the submission of an application for bankruptcy of the credit union by the Bank Guarantee Fund under the recovery and resolution,
- in the event of a branch of a foreign bank – acknowledgment and recognition by the court of a ruling to initiate bankruptcy proceedings abroad concerning a bank or the bank’s assets located within the territory of the Republic of Poland.
Contact
Telephone number
22 583 09 42
Free hotline
800 569 341
E-mail
kancelaria@bfg.pl
