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Annual report of the Bank Guarantee Fund
2020
6.3 Assistance from the cooperative
banks’ restructuring fund
Applications for financial aid
Pursuant to the Act of 7 December 2000 on the Operation of Cooperative Banks, their Affiliation, and
Affiliating Banks (Journal of Laws of 2018, item 613 as amended), in 2020 the BFG provided financial aid
to cooperative banks from the cooperative banks’ restructuring fund established in 2001.
Aid may be granted only to banks which are not at risk of insolvency and their situation allows, in the
opinion of the Fund, the loan to be repaid.
The Management Board of the Fund, within the financial resources available in 2020, accepted 65 applications from
cooperative banks for loans from the cooperative banks’ restructuring fund, including:
58 applications for financing of expenses related to joining the BPS Association Protection System in the total amount
of PLN 12,271.0 thousand,
7 applications for financing investments related to merger processes in the total amount of PLN 4,428.0 thousand.
At the same time, in 2020 the Management Board of the BFG refused to provide financial aid to one cooperative bank
to finance merger processes due to the exhaustion of funds accumulated under the cooperative banks’ restructuring fund.
Applications for waiving debts resulting from financial aid
According to the Act on the Operation of Cooperative Banks, their Affiliation, and Affiliating Banks,
receivables and amounts due to the Fund on account of the granted financial assistance may be waived
in whole or in part in cases justified by the public interest or having an impact on increasing financial
stability.
The BFG Council, at the request of the Management Board, accepted applications submitted by 93 cooperative banks.
The total amount of the remitted loans was PLN 21,879.1 thousand, of which:
83 applications for financing expenditures related to the participation in the protection schemes – in the amount of PLN
17,045.0 thousand,
10 applications for financing expenditures related to the merger process in the amount of PLN 4,834.1 thousand.
Since 2016, the Fund has only provided loans for expenses related to the participation in the protection schemes
or for expenses related to the implementation of the merger processes initiated by the protection scheme management
body or by the KNF. Due to the remission of all loans granted between 2016 and 2020, only PLN 626.3 remained in the
cooperative banks’ restructuring fund as of 31 December 2020. This form of aid provided by the BFG was thus exhausted
and ended.
Contents
Annual report of the Bank Guarantee Fund
2020
6.3 Assistance from the cooperative
banks’ restructuring fund
Applications for financial aid
Pursuant to the Act of 7 December 2000 on the Operation of Cooperative Banks, their Affiliation, and
Affiliating Banks (Journal of Laws of 2018, item 613 as amended), in 2020 the BFG provided financial aid
to cooperative banks from the cooperative banks’ restructuring fund established in 2001.
Aid may be granted only to banks which are not at risk of insolvency and their situation allows, in the
opinion of the Fund, the loan to be repaid.
The Management Board of the Fund, within the financial resources available in 2020, accepted 65 applications from
cooperative banks for loans from the cooperative banks’ restructuring fund, including:
58 applications for financing of expenses related to joining the BPS Association Protection System in the total amount
of PLN 12,271.0 thousand,
7 applications for financing investments related to merger processes in the total amount of PLN 4,428.0 thousand.
At the same time, in 2020 the Management Board of the BFG refused to provide financial aid to one cooperative bank
to finance merger processes due to the exhaustion of funds accumulated under the cooperative banks’ restructuring fund.
Applications for waiving debts resulting from financial aid
According to the Act on the Operation of Cooperative Banks, their Affiliation, and Affiliating Banks,
receivables and amounts due to the Fund on account of the granted financial assistance may be waived
in whole or in part in cases justified by the public interest or having an impact on increasing financial
stability.
The BFG Council, at the request of the Management Board, accepted applications submitted by 93 cooperative banks.
The total amount of the remitted loans was PLN 21,879.1 thousand, of which:
83 applications for financing expenditures related to the participation in the protection schemes – in the amount of PLN
17,045.0 thousand,
10 applications for financing expenditures related to the merger process in the amount of PLN 4,834.1 thousand.
Since 2016, the Fund has only provided loans for expenses related to the participation in the protection schemes
or for expenses related to the implementation of the merger processes initiated by the protection scheme management
body or by the KNF. Due to the remission of all loans granted between 2016 and 2020, only PLN 626.3 remained in the
cooperative banks’ restructuring fund as of 31 December 2020. This form of aid provided by the BFG was thus exhausted
and ended.
Contents
