Some of the provisions of the amended Banking Law will become binding upon Poland's accession to the European Union. Regulations relating to credit risk concentration, shareholders equity and consolidated supervision will apply from 2002.
The size and number of Polish syndicated loans is increasing annually. The main beneficiaries of syndicated loans are the major Polish companies, particularly shipyards and the telecommunications and energy industries.
The Act Amending the Bonds Act provides long-awaited clarification on the issuing of bonds by banks. Previous discrepancies between the Banking Law Act and the Bonds Act meant that a bank had no legal means of issuing bonds in accordance with the provisions of the latter. The amending act also introduces significant changes concerning the entities entitled to issue bonds.
Including: Recent Reform; Types of Banks; National Bank; Monetary Policy Council; Regulation of Banking Activity; Banking Supervisory Commission; Bank Guarantee Fund; Mortgage Banks; Acquiring Shares in an Existing Bank; European Union Impact
New legislation aimed at protecting consumer rights will affect banking agreements that are conducted outside the bank's premises and has implications for standard forms and contractual provisions.