Notes to the consolidated financial statements
Download note41. Assets used as collateral for liabilities
| Balance as at | |||
|---|---|---|---|
| 31 December 2016 | |||
| Bank’s assets put up as collateral | Liability type | Par value of collateralized liabilities | Carrying amount of assets put up as collateral |
| PLN’000 | PLN’000 | ||
| Treasury bonds | Bank Guarantee Fund * | 32 594 | 34 884 |
| Pledge under agreement on cooperation on cash and credit card services ** |
variable | 2 019 | |
| Liabilities from securities sold under repo and sell-buy-back agreements *** | 1 040 | 1 040 | |
| Total | 33 634 | 37 943 |
* The collateral covers the value of the Bank Guarantee Fund in accordance with Article 369 of the Act on Bank Guarantee Fund, deposit guarantee system and statutory restructuring of 10 June 2016 (Journal of Laws of 2016 item 996).
Treasury bonds with term to maturity compliant with the requirements of the applicable Act constitute the carrying amount of assets collateralizing the Bank Guarantee Fund. Every year, on 1 July, the Fund is increased or decreased, as appropriate, depending on the amount underlying the calculation of the mandatory reserve amount.
** All liabilities under the cooperation agreement on VISA/MasterCard payment card personalization, handling and clearing transactions made in Poland and abroad with the use of VISA/MasterCard cards of Bank Pocztowy S.A. and credit card account management are collateralized.
*** The collateral covers the obligation to buy back securities under sell-buy-back transactions.
| Balance as at | |||
|---|---|---|---|
| 31 December 2015 | |||
| Bank’s assets put up as collateral | Liability type | Par value of collateralized liabilities | Carrying amount of assets put up as collateral |
| PLN’000 | PLN’000 | ||
| Treasury bonds | Bank Guarantee Fund * | 21 474 | 32 838 |
| Pledge under agreement on cooperation on cash and credit card services ** |
variable | 2 011 | |
| Liabilities from securities sold under repo and sell-buy-back agreements *** | 154 006 | 154 017 | |
| Total | 175 480 | 188 866 |
* The collateral covers the value of the Bank Guarantee Fund in accordance with Article 25 of the Act on Bank Guarantee Fund of 14 December 1994 (consolidated text: Journal of Laws of 2014 No. 1866).
Treasury bonds with term to maturity compliant with the requirements of the applicable Act constitute the carrying amount of assets collateralizing the Bank Guarantee Fund. Every year, on 1 July, the Fund is increased or decreased, as appropriate, depending on the amount underlying the calculation of the mandatory reserve amount.
** All liabilities under the cooperation agreement on VISA/MasterCard payment card personalization, handling and clearing transactions made in Poland and abroad with the use of VISA/MasterCard cards of Bank Pocztowy S.A. and credit card account management are collateralized.
*** The collateral covers the obligation to buy back securities under sell-buy-back transactions.