Person:
Pollner, John Daniel

Private and Financial Sector Development Department, Europe and Central Asia Region
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Fields of Specialization
bank insolvency and resolution tools; catastrophe insurance and financial instruments; private/funded pension systems; structured finance and securitization (capital markets); Latin America; Eastern Europe; Central/East Asia
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ORCID
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Private and Financial Sector Development Department, Europe and Central Asia Region
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Last updated: January 31, 2023
Biography
John Pollner is Lead Financial Officer (Financial & Risk Markets) in the Private and Financial Sector Department of the Europe and Central Asia Region of the World Bank.  He specializes in policy analysis and projects in the new EU member states involving banking insolvency/bankruptcy, resolution and restructuring, capital market development and securitization, private sector pension reforms & annuities markets, and catastrophe insurance programs for hedging fiscal losses from natural peril risks, the latter area where he pioneered the design and use of risk transfer mechanisms.  Mr. Pollner is a national of both the US and Chile, and has an MBA / Finance degree from the University of California at Berkeley.

Publication Search Results

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Financial and Fiscal Instruments for Catastrophe Risk Management : Addressing Losses From Flood Hazards In Central Europe (Poland, Czech Republic, Hungary and Slovakia)

2011-07-01, Pollner, John D.

This report addresses the large flood exposures of Central Europe and proposes efficient financial and risk transfer mechanisms to mitigate fiscal losses from natural catastrophes.. The report is primarily addressed to the governments of the region which should build into their fiscal planning, the necessary contingent funding mechanisms, based on their exposures. While there exist pan-European mechanisms such as the EU Solidarity Fund to help EU members fund mega disasters, these only kick in at extremely high loss levels. Given these issues, the Governments of the V-4 countries should consider it a priority to set up risk transfer mechanisms to reduce fiscal volatility following natural catastrophes. The private sector insurance markets in the V-4 countries appear adequate and reflect rather high levels of penetration in the economy and in the housing sector. Economic and fiscal analyses based on global data also show that countries with insurance mechanisms and markets show a stronger GDP recovery path and lower fiscal deficits following a disaster. However, the V-4 countries, having a common hazard of flood, are in a unique position to develop highly cost effective flood insurance mechanisms. As countries in general are more concerned with supplemental fiscal resources rather than individual property losses, the governments of the V-4 countries can consider parametric style contracts. Nevertheless, risk transfer or insurance mechanisms are not the only types that need to be considered. The analysis in this report is meant to show, besides the financial mechanisms that would be beneficial for risk management, what large catastrophe exposures exist and their relation to government finances and macroeconomic measures. Following a final phase of feasibility analysis and market testing, the V-4 countries should thus consider establishing a multi-country insurance pool to provide fast emergency funding after disasters.

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The Polish Bank Insolvency Regime: Issues and Assumption Paper for the Design of an Upgraded Bank Resolution Framework

2012-07, Pollner, John D.

The bank insolvency framework in Poland should be modernized to ensure financial stability, maintain the continuity of critical functions in the banking system, and protect depositors and creditors, while assigning losses according to a pre-established creditor hierarchy. Several country experiences in Europe and elsewhere have demonstrated the effectiveness of new bank resolution measures by the European commission. A key aspect of the resolution process is for the authorities to swiftly assess and revalue the balance sheet of the intervened bank. Other particularities of modern resolution procedures relate to maintaining the integrity of secured financial contracts to prevent disruptions in financial market transactions including in payments and settlements systems. The treatment of systemically important institutions should rely on extraordinary resolution tools which are necessary if a bank is too large to be purchased or for its liabilities to be readily assumed. The purpose of this paper is thus to describe and recommend new features that can be added to strengthen the Polish legislation for handling commercial bank insolvencies. The paper focuses on the legal issues related to insolvency of banks (including commercial banks and cooperative banks). The banking sector's share in the total assets of the credit sector amounts to 89 percent while cooperative banks control 6 percent. The only wholly-owned state bank is the development bank Bank Gospodarstwa Krajowego (BGK) which is subject to supervision by the Polish Financial Supervisory Authority (KNF).