Publication:
Financial Sector Assessment Program - Poland : Credit Union Sector Regulatory and Supervisory Framework in Transition

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-03-25T18:18:13Z
dc.date.available2014-03-25T18:18:13Z
dc.date.issued2014-01
dc.description.abstractA World Bank-International Monetary Fund (IMF) mission visited Warsaw February 19 - March 5, 2013, to undertake an update of the Financial Sector Assessment Program (FSAP) conducted in 2006. The team was led by Luc Everaert (IMF) and Brett Coleman (World Bank) and included Karl Driessen, Nancy Rawlings, Yinqiu Lu, Jorge Chan-Lau, Rishi Ramchand (all IMF), Katia D'Hulster, Heinz Rudolph, Andrey Milyutin, John Pollner, Ignacio Tirado (all World Bank), as well as external experts David Walker (Canadian Deposit Insurance Corporation), Monnie Biety (independent consultant), and Fernando Montes-Negret (former World Bank and IMF). This note is prepared by Monnie Biety. The primary focus of this note is on the legal, regulatory, and supervisory framework of Poland's credit unions (SKOKs) at a time when the authorities are transitioning them to a stronger, more stable footing. The note reviews the law, regulations, and supervision regime in force at the time of the FSAP mission and suggests ways to help strengthen the SKOKs in a phased manner that gives viable SKOKs the necessary time and support to meet the new requirements. While the draft law was not reviewed during the FSAP as it was anticipated that there were to be many changes to the draft, key aspects of the draft law were analyzed using information and reports gathered that discussed the contents of the law. The note concludes with a discussion of these elements of the draft law. Numeric data used in this report were provided by National Association of Savings and Credit Unions (NASCU) during the FSAP mission, with some corrections provided by KNF post mission.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/01/19061521/poland-financial-sector-assessment-program-credit-union-sector-regulatory-supervisory-framework-transition-technical-note
dc.identifier.doi10.1596/17358
dc.identifier.urihttps://hdl.handle.net/10986/17358
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING PRINCIPLES
dc.subjectACCOUNTING RECORDS
dc.subjectACCOUNTING STANDARDS
dc.subjectACCOUNTING SYSTEMS
dc.subjectADMINISTRATIVE ACTIONS
dc.subjectALM
dc.subjectAMOUNT DUE
dc.subjectARREARS
dc.subjectASSET CLASS
dc.subjectASSET LIABILITY MANAGEMENT
dc.subjectASSET RATIO
dc.subjectASSETS RATIO
dc.subjectAUDITING
dc.subjectBALANCE SHEET
dc.subjectBANK ACCOUNT
dc.subjectBANK GUARANTEE
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEMS
dc.subjectBANKRUPT
dc.subjectBOND
dc.subjectBOND INSURANCE
dc.subjectBONDS
dc.subjectBOOK VALUE
dc.subjectBORROWER
dc.subjectBUSINESS PLAN
dc.subjectBUSINESS PLANS
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL ADEQUACY RATIOS
dc.subjectCAPITAL ADEQUACY REQUIREMENTS
dc.subjectCAPITAL BASE
dc.subjectCAPITAL CONCENTRATION
dc.subjectCAPITAL GROWTH
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCAPITAL STANDARDS
dc.subjectCAPITALIZATION
dc.subjectCASH FLOW
dc.subjectCLAIM
dc.subjectCODE OF ETHICS
dc.subjectCOLLATERAL
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL LOAN
dc.subjectCOMMERCIAL PAPER
dc.subjectCOMMERCIAL TERM
dc.subjectCONFLICT OF INTEREST
dc.subjectCONFLICTS OF INTEREST
dc.subjectCONSOLIDATION
dc.subjectCONSOLIDATION PROCESS
dc.subjectCONSUMER PROTECTION
dc.subjectCONTRACTUAL RIGHTS
dc.subjectCORRECTIVE ACTION
dc.subjectCOUNTRY CREDIT
dc.subjectCREDIT BUREAU
dc.subjectCREDIT CONTROL
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT UNION
dc.subjectCREDIT UNIONS
dc.subjectCREDITORS
dc.subjectCREDITS
dc.subjectDEBIT CARD PRODUCTS
dc.subjectDEBT
dc.subjectDEBTS
dc.subjectDEPOSIT
dc.subjectDEPOSIT GUARANTEE
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSIT INSURANCE SCHEME
dc.subjectDEPOSIT INSURANCE SYSTEM
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectDISPOSITION
dc.subjectDIVIDEND
dc.subjectDIVIDENDS
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC SHOCKS
dc.subjectENFORCEMENT OF SECURITY
dc.subjectEQUITY INVESTMENTS
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL CREDIT
dc.subjectFACE VALUE
dc.subjectFINANCIAL DATA
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL PROBLEMS
dc.subjectFINANCIAL RATIOS
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SITUATION
dc.subjectFINANCIAL STATEMENT
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL STRENGTH
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL SUSTAINABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFIXED ASSETS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RISK
dc.subjectGOVERNANCE STRUCTURES
dc.subjectGUARANTEE FUND
dc.subjectHOLDING
dc.subjectINCOME STATEMENT
dc.subjectINFORMATION SYSTEM
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINSOLVENCY
dc.subjectINSURANCE COMPANY
dc.subjectINSURANCE CORPORATION
dc.subjectINTEREST INCOME
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE RISK
dc.subjectINTEREST RATE RISKS
dc.subjectINTEREST RATES
dc.subjectINTEREST RATES ON LOANS
dc.subjectINTERNAL AUDIT
dc.subjectINTERNAL AUDITS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CREDIT
dc.subjectINTERNATIONAL STANDARD
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVESTING
dc.subjectINVESTMENT ACTIVITIES
dc.subjectINVESTMENT ACTIVITY
dc.subjectINVESTMENT POLICY
dc.subjectLAWS
dc.subjectLEGAL RIGHT
dc.subjectLEGAL RIGHTS
dc.subjectLIABILITY
dc.subjectLIEN
dc.subjectLINE OF CREDIT
dc.subjectLINES OF CREDIT
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDATION
dc.subjectLIQUIDATIONS
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY MANAGEMENT
dc.subjectLIQUIDITY PROBLEM
dc.subjectLIQUIDITY RATIO
dc.subjectLLC
dc.subjectLOAN
dc.subjectLOAN AMOUNTS
dc.subjectLOAN APPLICATION
dc.subjectLOAN APPROVAL
dc.subjectLOAN BALANCE
dc.subjectLOAN CONTRACT
dc.subjectLOAN DECISION
dc.subjectLOAN DEMAND
dc.subjectLOAN DOCUMENTATION
dc.subjectLOAN LOSS
dc.subjectLOAN LOSS PROVISIONING
dc.subjectLOAN LOSSES
dc.subjectLOAN PAYMENTS
dc.subjectLOAN PORTFOLIO
dc.subjectLOAN REPAYMENT
dc.subjectLOAN SIZE
dc.subjectMANDATE
dc.subjectMARKET VALUE
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMATURITY DATES
dc.subjectMERGERS
dc.subjectMINIMUM CAPITAL RATIO
dc.subjectNATURAL DISASTERS
dc.subjectNET LOSS
dc.subjectNET PROFIT
dc.subjectNEW CREDIT
dc.subjectOPERATING EXPENSES
dc.subjectOPERATIONAL RISKS
dc.subjectOUTSTANDING LOAN
dc.subjectOVERDUE LOANS
dc.subjectPENALTIES
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO DIVERSIFICATION
dc.subjectPORTFOLIOS
dc.subjectPRINCIPAL REPAYMENT
dc.subjectPROBLEM LOANS
dc.subjectPROFITABILITY
dc.subjectPRUDENTIAL STANDARD
dc.subjectPRUDENTIAL STANDARDS
dc.subjectREDEMPTION
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY RESTRICTIONS
dc.subjectREGULATORY STANDARDS
dc.subjectREHABILITATION PLANS
dc.subjectREHABILITATION PROGRAMS
dc.subjectREORGANIZATION
dc.subjectREORGANIZATION PROCEEDINGS
dc.subjectREPAYMENT SCHEDULE
dc.subjectRESERVE
dc.subjectRESERVE FUND
dc.subjectRESERVE FUNDS
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVES
dc.subjectRESTRICTIONS ON LOANS
dc.subjectRETAINED EARNINGS
dc.subjectRISK MANAGEMENT
dc.subjectRISKY LOANS
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNTS
dc.subjectSAVINGS DEPOSITS
dc.subjectSECURITIES
dc.subjectSETTLEMENT
dc.subjectSETTLEMENT SERVICES
dc.subjectSETTLEMENTS
dc.subjectSMALL LOANS
dc.subjectSOLVENCY
dc.subjectSOUND FINANCIAL FOOTING
dc.subjectSOUND FINANCIAL INSTITUTIONS
dc.subjectSUPERVISORY AGENCY
dc.subjectSUPERVISORY AUTHORITIES
dc.subjectSUPERVISORY BOARD
dc.subjectSUPERVISORY BOARDS
dc.subjectSUPERVISORY FRAMEWORK
dc.subjectSUPERVISORY POWERS
dc.subjectSYSTEMIC STABILITY
dc.subjectTERM DEPOSITS
dc.subjectTITLE
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectVALUATION
dc.subjectVALUATION OF COLLATERAL
dc.subjectVARIABLE INTEREST RATES
dc.subjectWINDING UP
dc.subjectWITHDRAWAL
dc.titleFinancial Sector Assessment Program - Poland : Credit Union Sector Regulatory and Supervisory Framework in Transitionen
dspace.entity.typePublication
okr.date.disclosure2014-02-21
okr.date.doiregistration2025-05-07T10:46:27.529639Z
okr.doctypeEconomic & Sector Work::Financial Sector Assessment Program (FSAP)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2014/01/19061521/poland-financial-sector-assessment-program-credit-union-sector-regulatory-supervisory-framework-transition-technical-note
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid216281468024641084
okr.identifier.externaldocumentum000333037_20140221103713
okr.identifier.internaldocumentum19061521
okr.identifier.report85004
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/02/21/000333037_20140221103713/Rendered/PDF/850040FSAP0P130reditUnion0WB0Public.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryPoland
okr.sectorFinance :: General finance sector
okr.themeInternational financial standards and systems
okr.themeFinancial and private sector development
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicFinance and Financial Sector Development::Debt Markets
okr.unitFinancial Sector Assessment Prog (FFSFP)
okr.volume1 of 1
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