On 26th of July 2012 in the headquarters of the Polish Bank Guarantee Fund took place the conference organized jointly by the World Bank and the Polish Bank Guarantee Fund, during which was presented the report “Issues and Assumption Paper for the Design of Upgraded Bank Resolution Framework”. This report was prepared by the World Bank mission in the cooperation with the Working Group of Financial Stability Committee headed by Jerzy Pruski, President of BFG Management Board.
The results of the report were presented by John Pollner, Lead Financial Officer, Europe and Central Asia Region, World Bank. Introductory remarks to presentation of John Pollner were delivered by Jerzy Pruski, President of BFG Management Board, Xavier Devictor, the World Bank Country Manager for Poland and the Baltic Countries, and Mirosław Sekuła, Under-secretary of State in Polish Ministry of Finance.
The World Bank, upon request from the Ministry of Finance, within the program of the Technical Advisory Work for the Government of Poland, and in cooperation with the representatives of the institutions responsible for the financial safety net in Poland – prepared an analysis of Polish solutions applicable to bankruptcy and resolution in the banking sector in the context of challenges arising from the recent financial crisis. A final effect of this analysis is this report “Issues and Assumption Paper for the Design of Upgraded Bank Resolution Framework”.
The report presents the issues related to bank restructuring and resolution in Poland. The document also contains an analysis of currently binding regulations pertaining to bankruptcy and liquidation proceedings applicable to banks included, inter alia, in the banking law and in the bankruptcy and reorganization law. Furthermore, it highlights the necessary legislative changes for a well-structured resolution process carried out in order to preserve financial stability and protect depositors. Moreover, the report refers to the most recent proposals of the European Commission in that regard, presented in the draft directive on the establishment of legal framework for corrective action and resolution of credit institutions and investment companies, as published on June 6th this year.
