Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision
A new amendment to the Law on Credit Unions (CU) dated November 5, 2009, will pass CU supervision to the Polish Financial Services Authority (PFSA), the body that regulates other financial institutions in Poland. Currently, CUs (also known as SKOKs...
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| Format: | Other Financial Sector Study |
| Language: | English en_US |
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Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2010/12/16344212/credit-unions-poland-diagnostic-proposals-regulation-supervision http://hdl.handle.net/10986/12997 |
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okr-10986-12997 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO CREDIT ACCOUNTING ACCOUNTING PRINCIPLES ARBITRAGE ASSET LIABILITY MANAGEMENT ASSET QUALITY ASSET RATIO ASSETS ASSETS RATIO BALANCE SHEET BALANCE SHEETS BANK DEPOSITS BANK FAILURE BANK FAILURES BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPT BANKRUPTCY BORROWER BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY REQUIREMENTS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CASH FLOW CENTRAL BANKS CHECKS CODE OF CONDUCT COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL LOAN COMMERCIAL TERM CONFLICT OF INTEREST CONFLICT OF INTERESTS CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSUMER CREDITS CORRECTIVE ACTION CORRECTIVE ACTIONS CREDIT BUREAU CREDIT INSTITUTIONS CREDIT UNION CREDIT UNIONS CREDITS CURRENCY DEBT DEBT SECURITIES DEPENDENT DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE SYSTEM DEPOSIT INSURANCE SYSTEMS DEPOSIT INSURER DEPOSIT INSURERS DEPOSIT PROTECTION DEPOSIT TAKING INSTITUTIONS DEPOSITOR DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DIRECT SUPERVISION DISPUTE RESOLUTION DISPUTE RESOLUTION SYSTEM DIVERSIFIED PORTFOLIOS DIVIDEND ESTATE EXCHANGE RATE EXISTING LAW EXPLICIT DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE FIDUCIARY RESPONSIBILITIES FINANCES FINANCIAL CRISIS FINANCIAL DIFFICULTY FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL PROBLEMS FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SITUATION FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FIXED ASSET FIXED ASSETS FRAUD FRAUDULENT ACTIVITIES GOOD FAITH GOOD GOVERNANCE GOVERNANCE ISSUES GOVERNANCE STRUCTURE GOVERNMENT POLICIES GOVERNMENT REGULATOR GOVERNMENT REGULATORS GROSS DOMESTIC PRODUCT IMPLICIT GUARANTEE INCOME STATEMENT INCOME STREAM INDEPENDENT AUDITOR INFLATION INFLATION RATE INFORMATION TECHNOLOGY INSURANCE CLAIMS INSURANCE COMPANY INSURANCE PREMIUMS INSURANCE PROGRAMS INTANGIBLE INTANGIBLE ASSETS INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNAL AUDIT INTERNAL AUDITS INTERNAL FINANCE INTERNATIONAL BANK INTERNATIONAL CREDIT INTERNATIONAL STANDARDS INVESTING INVESTMENT FUND INVESTMENT FUNDS INVESTMENT REQUIREMENTS JUDGMENT JURISDICTION LEGAL ACTIONS LEGAL FRAMEWORK LEVEL OF CONFIDENCE LEVEL PLAYING FIELD LEVERAGE LEVIES LIABILITY LIQUID ASSETS LIQUIDATION LIQUIDATIONS LIQUIDITY LIQUIDITY PROBLEMS LIQUIDITY RATIOS LOAN LOAN BALANCE LOAN DEMAND LOAN LOSS LOAN LOSS PROVISIONING LOCAL CURRENCY MACROECONOMIC CONDITIONS MANDATE MANDATES MARKET SHARE MATURITIES MATURITY MERGER MERGERS MICROFINANCE MINIMUM CAPITAL ADEQUACY RATIOS MONEY MARKET MORAL HAZARD MORTGAGES NATIONAL BANK NATIONAL CREDIT NET PROFIT NEW CREDIT NON-PERFORMING LOANS NONPERFORMING LOANS NPL OVERDUE LOANS PAYMENT SERVICES PORTFOLIOS PRUDENTIAL REGULATION PRUDENTIAL STANDARDS PRUDENTIAL SUPERVISION PUBLIC CONFIDENCE QUALITY OF ASSETS RATES OF RETURN REAL ESTATE LOANS RECEIVABLES RECORD KEEPING REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY STANDARDS REGULATORY STRUCTURE REGULATORY STRUCTURES REGULATORY SYSTEM REHABILITATION PROGRAM REHABILITATION PROGRAMS REPAYMENT REPAYMENT PERIOD RESERVE RESERVE FUND RESERVES RETURN ON ASSETS RISK MANAGEMENT RISK PROFILE SAFETY NET SAVINGS ACCOUNTS SELF-REGULATION SETTLEMENT SETTLEMENT SERVICES SETTLEMENTS SMALL BUSINESS SOLVENCY SOUND INSTITUTIONS STATE GUARANTEE SUBORDINATED DEBT SUPERVISORY ACTIONS SUPERVISORY AUTHORITY SUPERVISORY POWERS SYSTEM ASSETS SYSTEMIC STABILITY T-BONDS TRANSACTION TRANSPARENCY TREASURY TREASURY BONDS UNIVERSAL BANKS UNSECURED LOANS VALUE OF ASSETS |
| spellingShingle |
ACCESS TO CREDIT ACCOUNTING ACCOUNTING PRINCIPLES ARBITRAGE ASSET LIABILITY MANAGEMENT ASSET QUALITY ASSET RATIO ASSETS ASSETS RATIO BALANCE SHEET BALANCE SHEETS BANK DEPOSITS BANK FAILURE BANK FAILURES BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPT BANKRUPTCY BORROWER BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY REQUIREMENTS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CASH FLOW CENTRAL BANKS CHECKS CODE OF CONDUCT COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL LOAN COMMERCIAL TERM CONFLICT OF INTEREST CONFLICT OF INTERESTS CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSUMER CREDITS CORRECTIVE ACTION CORRECTIVE ACTIONS CREDIT BUREAU CREDIT INSTITUTIONS CREDIT UNION CREDIT UNIONS CREDITS CURRENCY DEBT DEBT SECURITIES DEPENDENT DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE SYSTEM DEPOSIT INSURANCE SYSTEMS DEPOSIT INSURER DEPOSIT INSURERS DEPOSIT PROTECTION DEPOSIT TAKING INSTITUTIONS DEPOSITOR DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DIRECT SUPERVISION DISPUTE RESOLUTION DISPUTE RESOLUTION SYSTEM DIVERSIFIED PORTFOLIOS DIVIDEND ESTATE EXCHANGE RATE EXISTING LAW EXPLICIT DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE FIDUCIARY RESPONSIBILITIES FINANCES FINANCIAL CRISIS FINANCIAL DIFFICULTY FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL PROBLEMS FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SITUATION FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FIXED ASSET FIXED ASSETS FRAUD FRAUDULENT ACTIVITIES GOOD FAITH GOOD GOVERNANCE GOVERNANCE ISSUES GOVERNANCE STRUCTURE GOVERNMENT POLICIES GOVERNMENT REGULATOR GOVERNMENT REGULATORS GROSS DOMESTIC PRODUCT IMPLICIT GUARANTEE INCOME STATEMENT INCOME STREAM INDEPENDENT AUDITOR INFLATION INFLATION RATE INFORMATION TECHNOLOGY INSURANCE CLAIMS INSURANCE COMPANY INSURANCE PREMIUMS INSURANCE PROGRAMS INTANGIBLE INTANGIBLE ASSETS INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNAL AUDIT INTERNAL AUDITS INTERNAL FINANCE INTERNATIONAL BANK INTERNATIONAL CREDIT INTERNATIONAL STANDARDS INVESTING INVESTMENT FUND INVESTMENT FUNDS INVESTMENT REQUIREMENTS JUDGMENT JURISDICTION LEGAL ACTIONS LEGAL FRAMEWORK LEVEL OF CONFIDENCE LEVEL PLAYING FIELD LEVERAGE LEVIES LIABILITY LIQUID ASSETS LIQUIDATION LIQUIDATIONS LIQUIDITY LIQUIDITY PROBLEMS LIQUIDITY RATIOS LOAN LOAN BALANCE LOAN DEMAND LOAN LOSS LOAN LOSS PROVISIONING LOCAL CURRENCY MACROECONOMIC CONDITIONS MANDATE MANDATES MARKET SHARE MATURITIES MATURITY MERGER MERGERS MICROFINANCE MINIMUM CAPITAL ADEQUACY RATIOS MONEY MARKET MORAL HAZARD MORTGAGES NATIONAL BANK NATIONAL CREDIT NET PROFIT NEW CREDIT NON-PERFORMING LOANS NONPERFORMING LOANS NPL OVERDUE LOANS PAYMENT SERVICES PORTFOLIOS PRUDENTIAL REGULATION PRUDENTIAL STANDARDS PRUDENTIAL SUPERVISION PUBLIC CONFIDENCE QUALITY OF ASSETS RATES OF RETURN REAL ESTATE LOANS RECEIVABLES RECORD KEEPING REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY STANDARDS REGULATORY STRUCTURE REGULATORY STRUCTURES REGULATORY SYSTEM REHABILITATION PROGRAM REHABILITATION PROGRAMS REPAYMENT REPAYMENT PERIOD RESERVE RESERVE FUND RESERVES RETURN ON ASSETS RISK MANAGEMENT RISK PROFILE SAFETY NET SAVINGS ACCOUNTS SELF-REGULATION SETTLEMENT SETTLEMENT SERVICES SETTLEMENTS SMALL BUSINESS SOLVENCY SOUND INSTITUTIONS STATE GUARANTEE SUBORDINATED DEBT SUPERVISORY ACTIONS SUPERVISORY AUTHORITY SUPERVISORY POWERS SYSTEM ASSETS SYSTEMIC STABILITY T-BONDS TRANSACTION TRANSPARENCY TREASURY TREASURY BONDS UNIVERSAL BANKS UNSECURED LOANS VALUE OF ASSETS World Bank Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision |
| geographic_facet |
Europe and Central Asia Poland |
| description |
A new amendment to the Law on Credit
Unions (CU) dated November 5, 2009, will pass CU supervision
to the Polish Financial Services Authority (PFSA), the body
that regulates other financial institutions in Poland.
Currently, CUs (also known as SKOKs by their Polish acronym)
are regulated under the Credit Union Act of December 14,
1995. In Articles 33-35, the National Association of Credit
Unions (NASCU) was given the responsibility to regulate and
supervise the CUs. However, the new law is not yet
operational, as it is being reviewed by the Constitutional
Court and there is no date set for the Court's ruling.
The law would come into force within sixty days of the
Court's decision confirming that the law is in line
with the Constitution. This report provides information on
the Polish CU experience, analyzes the new regulatory and
supervisory framework created by the new CU Law, and
provides recommendations for its implementation.
Recommendations are accompanied by relevant experience from
other countries. |
| format |
Economic & Sector Work :: Other Financial Sector Study |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision |
| title_short |
Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision |
| title_full |
Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision |
| title_fullStr |
Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision |
| title_full_unstemmed |
Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision |
| title_sort |
credit unions in poland : diagnostic and proposals on regulation and supervision |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2010/12/16344212/credit-unions-poland-diagnostic-proposals-regulation-supervision http://hdl.handle.net/10986/12997 |
| _version_ |
1764420593417977856 |
| spelling |
okr-10986-129972021-04-23T14:03:02Z Credit Unions in Poland : Diagnostic and Proposals on Regulation and Supervision World Bank ACCESS TO CREDIT ACCOUNTING ACCOUNTING PRINCIPLES ARBITRAGE ASSET LIABILITY MANAGEMENT ASSET QUALITY ASSET RATIO ASSETS ASSETS RATIO BALANCE SHEET BALANCE SHEETS BANK DEPOSITS BANK FAILURE BANK FAILURES BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPT BANKRUPTCY BORROWER BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY REQUIREMENTS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CASH FLOW CENTRAL BANKS CHECKS CODE OF CONDUCT COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL LOAN COMMERCIAL TERM CONFLICT OF INTEREST CONFLICT OF INTERESTS CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSUMER CREDITS CORRECTIVE ACTION CORRECTIVE ACTIONS CREDIT BUREAU CREDIT INSTITUTIONS CREDIT UNION CREDIT UNIONS CREDITS CURRENCY DEBT DEBT SECURITIES DEPENDENT DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE SYSTEM DEPOSIT INSURANCE SYSTEMS DEPOSIT INSURER DEPOSIT INSURERS DEPOSIT PROTECTION DEPOSIT TAKING INSTITUTIONS DEPOSITOR DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DIRECT SUPERVISION DISPUTE RESOLUTION DISPUTE RESOLUTION SYSTEM DIVERSIFIED PORTFOLIOS DIVIDEND ESTATE EXCHANGE RATE EXISTING LAW EXPLICIT DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE FIDUCIARY RESPONSIBILITIES FINANCES FINANCIAL CRISIS FINANCIAL DIFFICULTY FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL PROBLEMS FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SITUATION FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FIXED ASSET FIXED ASSETS FRAUD FRAUDULENT ACTIVITIES GOOD FAITH GOOD GOVERNANCE GOVERNANCE ISSUES GOVERNANCE STRUCTURE GOVERNMENT POLICIES GOVERNMENT REGULATOR GOVERNMENT REGULATORS GROSS DOMESTIC PRODUCT IMPLICIT GUARANTEE INCOME STATEMENT INCOME STREAM INDEPENDENT AUDITOR INFLATION INFLATION RATE INFORMATION TECHNOLOGY INSURANCE CLAIMS INSURANCE COMPANY INSURANCE PREMIUMS INSURANCE PROGRAMS INTANGIBLE INTANGIBLE ASSETS INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNAL AUDIT INTERNAL AUDITS INTERNAL FINANCE INTERNATIONAL BANK INTERNATIONAL CREDIT INTERNATIONAL STANDARDS INVESTING INVESTMENT FUND INVESTMENT FUNDS INVESTMENT REQUIREMENTS JUDGMENT JURISDICTION LEGAL ACTIONS LEGAL FRAMEWORK LEVEL OF CONFIDENCE LEVEL PLAYING FIELD LEVERAGE LEVIES LIABILITY LIQUID ASSETS LIQUIDATION LIQUIDATIONS LIQUIDITY LIQUIDITY PROBLEMS LIQUIDITY RATIOS LOAN LOAN BALANCE LOAN DEMAND LOAN LOSS LOAN LOSS PROVISIONING LOCAL CURRENCY MACROECONOMIC CONDITIONS MANDATE MANDATES MARKET SHARE MATURITIES MATURITY MERGER MERGERS MICROFINANCE MINIMUM CAPITAL ADEQUACY RATIOS MONEY MARKET MORAL HAZARD MORTGAGES NATIONAL BANK NATIONAL CREDIT NET PROFIT NEW CREDIT NON-PERFORMING LOANS NONPERFORMING LOANS NPL OVERDUE LOANS PAYMENT SERVICES PORTFOLIOS PRUDENTIAL REGULATION PRUDENTIAL STANDARDS PRUDENTIAL SUPERVISION PUBLIC CONFIDENCE QUALITY OF ASSETS RATES OF RETURN REAL ESTATE LOANS RECEIVABLES RECORD KEEPING REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY STANDARDS REGULATORY STRUCTURE REGULATORY STRUCTURES REGULATORY SYSTEM REHABILITATION PROGRAM REHABILITATION PROGRAMS REPAYMENT REPAYMENT PERIOD RESERVE RESERVE FUND RESERVES RETURN ON ASSETS RISK MANAGEMENT RISK PROFILE SAFETY NET SAVINGS ACCOUNTS SELF-REGULATION SETTLEMENT SETTLEMENT SERVICES SETTLEMENTS SMALL BUSINESS SOLVENCY SOUND INSTITUTIONS STATE GUARANTEE SUBORDINATED DEBT SUPERVISORY ACTIONS SUPERVISORY AUTHORITY SUPERVISORY POWERS SYSTEM ASSETS SYSTEMIC STABILITY T-BONDS TRANSACTION TRANSPARENCY TREASURY TREASURY BONDS UNIVERSAL BANKS UNSECURED LOANS VALUE OF ASSETS A new amendment to the Law on Credit Unions (CU) dated November 5, 2009, will pass CU supervision to the Polish Financial Services Authority (PFSA), the body that regulates other financial institutions in Poland. Currently, CUs (also known as SKOKs by their Polish acronym) are regulated under the Credit Union Act of December 14, 1995. In Articles 33-35, the National Association of Credit Unions (NASCU) was given the responsibility to regulate and supervise the CUs. However, the new law is not yet operational, as it is being reviewed by the Constitutional Court and there is no date set for the Court's ruling. The law would come into force within sixty days of the Court's decision confirming that the law is in line with the Constitution. This report provides information on the Polish CU experience, analyzes the new regulatory and supervisory framework created by the new CU Law, and provides recommendations for its implementation. Recommendations are accompanied by relevant experience from other countries. 2013-03-27T20:00:08Z 2013-03-27T20:00:08Z 2010-12 http://documents.worldbank.org/curated/en/2010/12/16344212/credit-unions-poland-diagnostic-proposals-regulation-supervision http://hdl.handle.net/10986/12997 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work Europe and Central Asia Poland |