The Act of 10 June 2016 on the Bank Guarantee Fund, Deposit Guarantee Scheme and Resolution (Journal of Laws of 2016, item 996) imposes on institutions subject to the personal scope of the regulations new information duties towards the Bank Guarantee Fund, aimed at providing the Fund with access to data necessary for execution of
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Maciej Szczęsny
Appointed by the Minister of Finance as the Chairman of the BFG Council on January 19, 2024.
He has been associated with the banking sector for over 20 years. He began his career in 1997 at BRE Corporate Finance, where as a consultant he participated in teams working on merger and acquisition projects, privatization, and corporate
The rationale for triggering resolution in insurance companies
a. Threat of bankruptcy
Resolution can be triggered when an entity goes bankrupt or is at risk of bankruptcy. This threat arises on the basis of analyses by both the supervisor and the resolution authority. The prerequisites for insolvency may include:
failure of the entity to meet capital requirements
failure of the entity to comply with
The rationale for triggering resolution in insurance companiesRead more …
Resolution tools for insurance companies
Applying resolution entails the use of one or more of the following resolution tools.
Tool 1: Sale of business
Under resolution, it is possible for the resolution authority to sell the insurer or part of it (e.g., all or part of its insurance portfolio) to another entity. Such a decision by the authority will not require the
Disclaimer
The www.bfg.pl domain is the web service (the Service), owned by the Bank Guarantee Fund, with the principal office registered in Warsaw at ul. ks. Ignacego Jana Skorupki 4 (hereinafter referred to as BFG).
Any person who proceeds to use this Service (the User) thus acknowledges and accepts the terms and conditions presented below.
In the scope
Coverage Level
Guarantee amount
The amount of funds not exceeding the PLN equivalent of EUR 100,000 is guaranteed in its entirety.
The rules for calculating the guaranteed amount
The guaranteed amount is determined as per the balance of the depositor funds as of the day of meeting the guarantee condition to the bank or savings and credit union (inclusive
Resolution of Getin Noble Bank S.A.
On 29 September 2022, the Bank Guarantee Fund adopted a resolution decision for Getin Noble Bank S.A. (“the Bank”). On 30 September 2022, the Fund’s decision was delivered to the Bank. Thus, on that date, the resolution process against Getin Noble Bank S.A. was initiated. Also on that date, the Bank’s capital instruments were written
Resolution of Getin Noble Bank S.A.
On 29 September 2022, the Bank Guarantee Fund adopted a resolution decision for Getin Noble Bank S.A. (“the Bank”). On 30 September 2022, the Fund’s decision was delivered to the Bank. Thus, on that date, the resolution process against Getin Noble Bank S.A. was initiated. Also on that date, the Bank’s capital instruments were written down