Prospectus - Notowania

equirements laid down are those concerning capital, the capital adequacy ratios, the
concentration of the exposures, the liquidity, the risk management systems and the
administration of the capital in a strictly regulated manner.
In Poland, the banks must satisfy the capital requirements laid down for credit
institutions and the guidelines on capital adequacy published by the Basel Committee
on banking supervision (Basel 1 and Basel 2), as introduced by EU legislation
(Directive 2006/49/EC) and implemented in Polish banking legislation and in other
provisions and regulations (also by means of the guidelines and recommendations of
the PFSA).
Polish legislation also requires the banks to guarantee banking secrecy and the
protection of personal details within the context of banking operations. Specifically,
the personal details must be processed in compliance with the consolidated law on the
protection of personal details dated August 29, 1997, on the basis of the technical and
organizational measures which ensure protection. The banks are also obliged to
observe anti-money laundering legislation and that aimed at preventing the funding of
terrorism (consolidated law against money laundering and the funding of terrorism
dated November 16, 2000). A number of restrictions also exist with regard to the
faculty to avail oneself of third parties for the performance of the activities and the
banking transactions in favour and on behalf of a bank.
The consolidated law on consumer credit dated July 20, 2001, the Polish Civil Code
and other laws for the protection of consumers lay down various obligations for the
banks when entering into agreements with customers (or rather parties which do not
act within the sphere of their commercial or professional activities), including that of
not including any clauses which are unfavourable for the same.
The Polish supervisory authorities
In Poland, bank supervision extends, without any limit, to the (a) assessment of the
financial condition of the banks, including the capital adequacy, the quality of the
assets held, the cash flows and the financial results; (b) assessment of the quality of
the banks’ management systems, with particular attention paid to the handling of the
risk and the internal audit systems; (c) checking of the compliance with applicable
norms concerning financing, money loans, letters of credit, bank guarantees and
sureties from banks and any bank security; (d) assessment for the guarantee of, and the
prompt repayment of, financing and money loans; (e) examination of the level of
compliance with the concentration limits set, valuation of the identification,
monitoring and control process on the concentration of the credit facilities, including
high ones; (f) assessment of the compliance of the banks with the risk standards
permitted, established by the PFSA, including the alignment and the correction of the
risk identification and monitoring process and the process for the reporting of the risks
on the basis of the type and the volumes of the transactions of the individual bank; and
(g) examination of the determination, adequacy and control of the capital.
The powers of the PFSA include, inter alia:
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