President of the BFG Management Board became the member of the Strategic Planning Working Group (SPWG) of the International Association of Deposit Insurers (IADI). The group is responsible for developing solutions that will enable the reform of the association.
Having regard to the minimum requirement for own funds and eligible liabilities (MREL) setting experience gained in 2017 and as a result of analysis conducted during the 2018 planning cycle, the Bank Guarantee Fund revised the methodology for calculating MREL. The key points of this methodology are presented below.
Preferred resolution strategy envisaged
On 9 October 2016 entered into force the Act on the Bank Guarantee Fund, Deposit Guarantee Scheme and Resolution (the Act on BFG).
Under the new Act on BFG the Fund has gained new powers enabling to carry out a resolution action. The Fund may start the resolution process, if any opportunities to
During the meeting with representatives of commercial banks sector the Bank Guarantee Fund has presented details of methodology for calculating the minimum requirement for own funds and eligible liabilities (MREL).
A preferred strategy envisaged in a resolution plan, is a crucial element that determines the amount of MREL required by the Bank Guarantee
During the period of 2014-2017, the Bank Guarantee Fund (BFG) paid out PLN 4.326 bln of guaranteed funds to depositors of 11 failed credit unions and PLN 2.174 bln to depositors of two failed cooperative banks.
Total guarantee liabilities in both cases (including amounts not yet collected by depositors) amounted to PLN 6.549