Notes to the consolidated financial statements
41. Assets used as collateral for liabilities
Balance as at 31 December 2014 Bank’s assets used as collateral |
Liability type | Nominal value of collateralized liabilities |
Carrying amount of assets used as collateral |
---|---|---|---|
PLN’000 | PLN’000 | ||
Treasury bonds | Capital Guarantee Fund * | 34,415 | 37,383 |
Pledge under cooperation agreement on payment and credit card services ** | variable | 9,088 | |
Liabilities arising from sold securities (repo and sell-buy-back transactions) *** | 177,674 | 177,701 | |
Total | 212,089 | 224,172 |
* the collateral covers the value of the Bank Guarantee Fund in accordane with Article 25 of the Act on Bank Guarantee Fund of 14 December 1994 (consolidated text: Journal of Laws of 2009, No. 84, item 711 as amended). 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 securirities under sell-buy-back transactions
Balance as at 31 December 2013 Treasury bonds |
Liability type | Nominal value of collateralized liabilities |
Carrying amount of assets used as collateral |
---|---|---|---|
PLN’000 | PLN’000 | ||
Obligacje skarbowe | Capital Guarantee Fund * | 35,206 | 37,484 |
Pledge under cooperation agreement on payment and credit card services ** | variable | 9,089 | |
Liabilities arising from sold securities (repo and sell-buy-back transactions) *** | 49,599 | 49,610 | |
Razem | 84,805 | 96,183 |
* 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 2009, No. 84, item 711 as amended). 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 securirities under sell-buy-back transactions
Annual Report 2014 - Bank Pocztowy
Corporate Governance
- Corporate governance: principles and scope of application
- Control system in the process of preparing financial statements
- Entity authorized to audit financial statements
- Shareholding structure and share capital
- Key information regarding Poczta Polska S.A.
- Cooperation with Poczta Polska S.A.
- Investor relations
- By-laws amending principles
- Activities of the corporate bodies of the Bank