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Annual report of the Bank Guarantee Fund
2020
The BFG was established pursuant to the Act of 14 December 1994 on the Bank Guarantee Fund. Currently, the legal
grounds for the Fund’s activities are laid out by the Act on the Bank Guarantee Fund of 10 June 2016, the deposit guarantee
scheme and resolution, which has been in force since 9 October 2016 and has provided the Fund with broad powers and
intervention mechanisms in case of a threat to the stability of the domestic financial system.
The BFG Act introduced, into the domestic legal order, the provisions of Directive 2014/49/EU of the European Parliament
and of the Council of 16 April 2014 on deposit guarantee schemes (so called DGSD or DGS Directive) and Directive 2014/59/
EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution
of credit institutions and investment firms (so called BRRD or BRR Directive).
3.1 Legal grounds
Figure 1.
Security network
Bank Guarantee Fund
The
Bank Guarantee Fund (BFG)
is an institution acting for the stability of the domestic financial system:
in particular it guarantees deposits gathered in banks and credit unions, being responsible for the resolution
of financial institutions that are failing or likely to fail.
The Bank Guarantee Fund, together with the National Bank of Poland, the Ministry of Finance and the Polish
Financial Supervision Authority, forms part of the financial safety net in Poland. The President of the Management
Board of the BFG is a permanent member of the Financial Stability Committee.
Contents
Annual report of the Bank Guarantee Fund
2020
The BFG was established pursuant to the Act of 14 December 1994 on the Bank Guarantee Fund. Currently, the legal
grounds for the Fund’s activities are laid out by the Act on the Bank Guarantee Fund of 10 June 2016, the deposit guarantee
scheme and resolution, which has been in force since 9 October 2016 and has provided the Fund with broad powers and
intervention mechanisms in case of a threat to the stability of the domestic financial system.
The BFG Act introduced, into the domestic legal order, the provisions of Directive 2014/49/EU of the European Parliament
and of the Council of 16 April 2014 on deposit guarantee schemes (so called DGSD or DGS Directive) and Directive 2014/59/
EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution
of credit institutions and investment firms (so called BRRD or BRR Directive).
3.1 Legal grounds
Figure 1.
Security network
Bank Guarantee Fund
The
Bank Guarantee Fund (BFG)
is an institution acting for the stability of the domestic financial system:
in particular it guarantees deposits gathered in banks and credit unions, being responsible for the resolution
of financial institutions that are failing or likely to fail.
The Bank Guarantee Fund, together with the National Bank of Poland, the Ministry of Finance and the Polish
Financial Supervision Authority, forms part of the financial safety net in Poland. The President of the Management
Board of the BFG is a permanent member of the Financial Stability Committee.
Contents
