BANKING

Banking Supervision

Financial  Supervision  Authority  (KNF)  

Securi'es  and  Exchange  Commission  

Insurance  and  Pension  Funds  Supervisory  Commission  

Commission  for  Banking  Supervision  

Financial  Supervision  Authority    

(19.09.2006; 01.01.2008) 

Act  on  Financial  Market  Supervision  of  July  21st  2006  (Dz.  U.  of  2006,  No.  157,  item  1119,  

as  amended)  

Financial  Supervision  Authority  (KNF)  

The  aim  of  financial  market  supervision  is  to  ensure  

regular  opera'on  of  this  market,  its  stability,  

security  and  transparency,  confidence  in  the  

financial  market,  as  well  as  to  ensure  that  the  

interests  of  market  actors  are  protected.  

 

The  KNF  supervises  the  financial  services  industry  

in  Poland.  This  includes  credit  ins'tu'ons,  

insurance  firms,  investment  companies,  exchanges,  

pension  scheme  as  well  as  payment  ins'tu'ons  

and  credit  unions.  

Financial  Supervision  Authority  (KNF)  

Moreover,  the  tasks  of  the  KNF  shall  include  the  following:    

a.  undertaking  measures  aimed  at  ensuring  regular  opera'on  of  the  

financial  market;    

b.  undertaking  measures  aimed  at  development  of  financial  market  

and  its  compe''veness;    

c.  undertaking  educa'onal  and  informa'on  measures  related  to  

financial  market  opera'on;    

d.  par'cipa'on  in  the  draXing  of  legal  acts  related  to  financial  market  

supervision;    

e.  crea'on  the  opportuni'es  for  amicable  and  conciliatory  seYlement  

of  disputes  which  may  arise  between  financial  market  actors,  in  

par'cular  disputes  resul'ng  from  contractual  rela'ons  between  

en''es  covered  by  PFSA  supervision  and  recipients  of  services  

provided  by  those  en''es;    

f.  carrying  out  other  ac'vi'es  provided  for  by  acts  of  law.  

Banking  Supervision  Authority  Tasks  

1.  Licensing and authorisation
2.  Regulatory and prudential  
3.  Monitoring and inspection 
4.  Discipline  

Banking  Act,  Art.  131  

The  ac'vity  of  banks,  branches  and  

representa've  offices  of  foreign  banks,  as  well  

as  of  branches  and  representa've  offices  of  

credit  ins'tu'ons,  shall  be  subject  to  supervision  

exercised  by  the  Polish  Financial  Supervision  

Authority,  the  scope  and  principles  of  such  

supervision  being  set  out  in  the  present  Act  and  

the  Act  of  21  July  2006  on  the  Financial  Market  

Supervision.  

Banking  Act,  Art.  133  

The  objec've  of  the  supervision  is  to  ensure:    

1)  the  safety  of  funds  held  on  bank  accounts,    

2)  compliance  by  the  banks  with  the  provisions  of  the  

present  Act,  the  Act  on  the  Na'onal  Bank  of  

Poland,  their  ar'cles  of  associa'on,  and  the  

decision  on  gran'ng  authorisa'on  to  establish  

those  banks.    

3)  compliance  of  banks’  ac'vity  carried  out  

accordance  with  Art.  70  para.  2  of  the  Act  on  

Trading  in  Financial  Instruments  of  July  29,  2005  

with  provisions  of  that  Act.  

Banking  Act,  Art.  133  

The  measures  taken  in  the  exercise  of  banking  supervision  shall  involve,  in  par'cular:  

1)  assessment  of  the  banks’  financial  standing,  including  reviewing  the  solvency,  

quality  of  assets,  payment  liquidity  and  financial  results,    

2)  reviewing  the  quality  of  bank  management  system,  in  par'cular  the  risk  

management  and  internal  control  systems,    

3)  reviewing  loans,  cash  advances,  leYers  of  credit,  bank  guarantees  and  sure'es,  as  

well  as  issued  bank  securi'es  for  compliance  with  the  regula'ons  in  force  in  these  

respects,    

4)  reviewing  the  security  taken  against  loans  and  cash  advances  and  'meliness  of  

repayment,    

5)  reviewing  compliance  with  the  limits  referred  to  in  Art.  71  and  Art.  79a,  and  

assessment  of  the  process  of  iden'fying,  monitoring  and  control  of  concentra'on  of  

exposures,  including  large  exposures,    

6)  reviewing  the  bank  adherence  to  the  standards  of  permissible  risks  in  banking  

ac'vity,  specified  by  the  Polish  Financial  Supervision  Authority,  the  management  of  

risk  related  to  the  conducted  banking  ac'vity,  including  the  adjustment  of  the  risk  

iden'fica'on  and  monitoring  processes,  as  well  as  risk  repor'ng,  to  the  type  and  

extend  of  ac'vi'es  conducted  by  the  bank,  

7)  assessment  of  es'ma'ng,  maintaining  and  reviewing  the  internal  capital.  

EU  Supervision  Framework  

Sources  of  informaEon  

1.  knf.gov.pl  

2.  REPORT  ON  THE  ACTIVITIES  OF  THE  POLISH  FINANCIAL  

SUPERVISION  AUTHORITY  IN  2012,  Chapters:  1,  2.1,  3.1,  4.1,  

5.1,  6,  7.1.  (hYp://www.knf.gov.pl/en/Images/

Annual_Report_2012_tcm81-­‐34536.pdf)