21 Jun 2018 13:02
UNOFFICIAL TRANSLATION
Report 10/2018: Letter of the Polish Financial Supervision Authority of the administrative proceedings regarding the amount of the other systemically important institution buffer for Bank Polska Kasa Opieki Spółka Akcyjna.
The Bank Polska Kasa Opieki Spółka Akcyjna ('Bank') hereby informs that as a part of the administrative proceedings conducted by the Polish Financial Supervision Authority ('PFSA'), regarding the review of the appropriateness of the buffer of other systemically important institution, on 18th June 2018, the Bank received a letter in which PFSA asks the Financial Stability Committee ('FSC') for its opinion concerning a change in the above mentioned buffer imposed on the Bank.
The PFSA letter indicates, that realizing the obligation to provide information under the Article 46(1) of the Act of 5th August 2015 on Macroprudential Supervision of the Financial System and Crisis Management in the financial system ('Macroprudential Supervision Act'), the PFSA assessed the systemic importance of the Bank. As a results of above, the PFSA indicated that the assessment of systemic importance obtained by the Bank is the basis to impose a buffer of the other systemically important institution on the Bank in the equivalent amount to 0,75% of the total risk exposure instead of the current buffer in the equivalent amount of 0,50%, amount calculated pursuant to Article 92(3) of the CRR, about which the Bank informed in current report No. 1/2018 dated 4th January, 2018.
Pursuant to the Article 39 (1) of the Macroprudential Supervision Act the final decision will be issued by the PFSA after the KSF has taken a position. The Bank will inform in a separate report about the completion of the proceedings and receipt of a decision concerning the buffer level of the other systemically important institution's buffer.
Legal basis: Article 17(1) of the MAR