Poll

Regulatory environment

The financial and organizational condition of the Bank Pocztowy Capital Group was affected by the following amendments of law:

  • Act of 12 July 2013 amending the act on payment services and other selected acts (Journal of Laws of 2013 item 1036). The Act entered into force as of 7 October 2013.
  • Act of 26 July 2013 amending the act on Bank Guarantee Fund and other selected acts (Journal of Laws of 2013 item 1012). The Act entered into force as of 4 October 2013.
  • Ordinance of the Minister of Finance of 11 December 2012 amending the ordinance on tax return to selected taxpayers, invoice issuing and storing and a list of goods and services to which the VAT exemption does not apply (Journal of Laws, item 1428). The Ordinance entered into force as of 1 January 2013.
  • Resolution No. 7/2013 of the Polish Financial Supervision Authority dated 8 January 2013 on issuing Recommendation D concerning management of IT technology and information technology environment security in banks (Official Journal of the Polish Financial Supervision Authority of 2013, item 5). The Polish Financial Supervision Authority expects that the recommendation will have been implemented by 31 December 2014.
  • Resolution No. 8/2013 of the Polish Financial Supervision Authority dated 8 January 2013 on issuing Recommendation M concerning operational risk management in banks (Official Journal of the Polish Financial Supervision Authority of 2013, item 6). The Polish Financial Supervision Authority expects that the recommendation will have been implemented by 30 June 2013, except for item 17.3, which should enter into force by 31 December 2013 at the latest.
  • Resolution No. 59/2013 of the Polish Financial Supervision Authority dated 26 February 2013 on issuing Recommendation T on good practices in managing retail credit exposures (Official Journal of the Polish Financial Supervision Authority of 2013, item 11). The provisions of the Recommendation in question were implemented before 31 July 2013, within the deadline specified by the Authority.
  • Resolution No. 148/2013 of the Polish Financial Supervision Authority dated 18 June 2013 on issuing Recommendation S on good practices in managing mortgaged credit exposures (Official Journal of the Polish Financial Supervision Authority of 2013, item 23). The Polish Financial Supervision Authority expected that the recommendation would be implemented by 1 January 2014 at the latest, except for recommendations 6, 9.1, 12, 14.10, 15.8 and 20, which should enter into force by 1 July 2014.
  • Position of the Polish Financial Supervision Authority on insurance fee recognition under revenue in banks of 7 March 2013.
  • Position of the Polish Financial Supervision Authority of 23 December 2013 providing detailed guidelines on accounting treatment of recognizing revenue from sale of bancassurance products.
  • Recommendations of the Payment System Council on security of proximity cards of 30 September 2013. The provisions will come into force after 6 months from approving the Recommendation.
  • Recommendation of the Polish Banks Association dated 10 July 2012 on good practices related to insurance with elements of investment or saving in the Polish bancassurance market. The Recommendation entered into force as of 1 January 2013.
  • Recommendation of the Polish Banks Association dated 10 July 2012 on good practices related to insurance coverage linked with bank products in the Polish bancassurance market. The Recommendation entered into force as of 1 January 2013.

 

Annual Report 2013 - Bank Pocztowy