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 its statutory tasks, including:

  • development, updates and feasibility assessment of resolution plans,
  • preparation of resolution,
  • performing necessary valuations.

The information requirements imposed on entities to this extent derive from article 85, 86,88 and 330, paragraph 1 and 2 of the Act.

In order to delineate the detailed scope, format and mode of the data transfer to the Fund, the Minister competent for financial institutions will issue regulations on the basis of the authorisations included in article 87, 88, paragraph 3 and 330, paragraph 6 of the Act.

The draft regulations of the Minister of Finance are available on the website of the Government Legislation Centre:

  • the draft regulation on the register of financial instruments, issued on the basis of article 88, paragraph 3 of the Act,
  • the draft regulation on the detailed scope, mode and date of the transfer of information to the Bank Guarantee Fund, necessary for execution of its tasks and on the method of verification of the transferred information, issued on the basis of article 330, paragraph 6 of the Act.

Additionally, the information requirements for the entities referred to in article 1, paragraph 1, point a-d of the Directive 2014/59/EU of the European Parliament and of the Council towards resolution authorities are stipulated in the regulatory technical standards issued by the European Banking Authority and adopted in the form of delegated regulations and implementing regulations of the European Comission, which are directly applicable.

On the EUX-Lex website there are:

  • Comission implementing regulation (EU) 2016/1066 of 17 June 2016 laying down implementing technical standards with regard to procedures, standard forms and templates for the provision of information for the purpose of resolution plans for credit institutions and investment firms pursuant to Directive 2014/59/EU of the European Parliament and of the Council (OJ L 181, 6.7.2016, p. 1),
  • Comission delegated regulation (EU) 2016/1712 of 7 June 2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms with regard to regulatory technical standards specifying a minimum set of the information on financial contracts that should be contained in the detailed records and the circumstances in which the requirement should be imposed (OJ L 258, 24.9.2016, p.1).

Moreover, the Act imposes on entities covered by the deposit guarantee scheme information obligations towards their clients. The norms within this scope are stipulated in article 318 and 319 of the Act.