Financial Sector Assessment Program - Poland : Credit Union Sector Regulatory and Supervisory Framework in Transition
A 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...
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| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/01/19061521/poland-financial-sector-assessment-program-credit-union-sector-regulatory-supervisory-framework-transition-technical-note http://hdl.handle.net/10986/17358 |
| Summary: | A 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. |
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