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Annual report of the Bank Guarantee Fund
2020
3.3 Organisation
of the Bank Guarantee Fund
3.2 Mission and tasks
of the Bank Guarantee Fund
The Fund’s goal is to take action for the stability of the national financial system, in particular by ensuring
the functioning of the mandatory deposit guarantee scheme and carrying out the resolution proceedings.
The Fund’s key tasks are:
guaranteeing deposits in a bank or a credit union up to the statutory limit (equivalent of EUR 100,000
in PLN) and making disbursements of the guaranteed funds – within 7 working days from the date of meeting
the guarantee condition; in special cases and within a limited time, the depositor is entitled to guarantee
protection in the amount higher than the equivalent of EUR 100,000;
verifying the correctness of data included in the calculation systems of the entities covered by the guarantee
scheme;
restructuring domestic entities and other institutions if they are subject to consolidated supervision
exercised by the Polish Financial Supervision Authority, by way of write-down or conversion of capital
instruments;
preparing, reviewing and, if necessary, updating resolution plans and carrying out resolvability assessments,
carrying out resolution proceedings;
collecting and analysing information on banks and credit unions;
preparing analyses and forecasts for early identification of threats in the banking and credit union sectors;
taking other measures for the stability of the domestic financial system.
The Fund’s Council consists of six members, all appointed by the institutions comprising the financial safety net.
A representative of the competent minister in charge of financial institutions is the Chairperson of the Fund’s Council.
The statutory bodies of the Bank Guarantee Fund are the Fund’s Council and the Management Board.
The role
of the Management Board is to manage the Fund and represent it to third parties, while the Council supervises
and controls the operations of the Fund’s Management Board. The terms of the Fund’s Council and of the Fund’s
Management Board last 3 years.
Contents
Annual report of the Bank Guarantee Fund
2020
3.3 Organisation
of the Bank Guarantee Fund
3.2 Mission and tasks
of the Bank Guarantee Fund
The Fund’s goal is to take action for the stability of the national financial system, in particular by ensuring
the functioning of the mandatory deposit guarantee scheme and carrying out the resolution proceedings.
The Fund’s key tasks are:
guaranteeing deposits in a bank or a credit union up to the statutory limit (equivalent of EUR 100,000
in PLN) and making disbursements of the guaranteed funds – within 7 working days from the date of meeting
the guarantee condition; in special cases and within a limited time, the depositor is entitled to guarantee
protection in the amount higher than the equivalent of EUR 100,000;
verifying the correctness of data included in the calculation systems of the entities covered by the guarantee
scheme;
restructuring domestic entities and other institutions if they are subject to consolidated supervision
exercised by the Polish Financial Supervision Authority, by way of write-down or conversion of capital
instruments;
preparing, reviewing and, if necessary, updating resolution plans and carrying out resolvability assessments,
carrying out resolution proceedings;
collecting and analysing information on banks and credit unions;
preparing analyses and forecasts for early identification of threats in the banking and credit union sectors;
taking other measures for the stability of the domestic financial system.
The Fund’s Council consists of six members, all appointed by the institutions comprising the financial safety net.
A representative of the competent minister in charge of financial institutions is the Chairperson of the Fund’s Council.
The statutory bodies of the Bank Guarantee Fund are the Fund’s Council and the Management Board.
The role
of the Management Board is to manage the Fund and represent it to third parties, while the Council supervises
and controls the operations of the Fund’s Management Board. The terms of the Fund’s Council and of the Fund’s
Management Board last 3 years.
Contents
