Prospectus - Notowania

(i) the granting of authorizations for the establishment of a bank, changes to the
articles of association and the capital, appointment of two members of the
management board (including the chairman), the acquisition of equity
investments in the bank’s share capital which involve exceeding specific voting
thresholds;
(ii) supervision of the level of compliance of the activities of the banks with legal
provisions and individual articles of association;
(iii) the monitoring of the financial condition of the banks and the fixing of binding
liquidity ratios and other risk admissibility thresholds in banking transactions;
(iv) the formulation of recommendations regarding best practice in terms of a
prudent and stable management of the banks;
(v) the formulation of guidelines for the operations of the banks;
(vi) the imposition of sanctions and the indication of adaptation measures in the
event of violation of the banking regulations, including monetary sanctions, the
suspension of the members of the executive board, limitations on the operations
of the banks or the revocation of the authorizations to carry out banking
activities; and
(vii) the appointment of the trust management for the banks.
The PFSA has the faculty to launch inspections in relation to the banks by means of its
supervisory staff.
Some specific areas in which the banks operate are also subject to the supervision of
other administrative authorities; the main ones include:
(i) the chairman of the supervisory office on competition and consumer protection,
for the protection of competition in the market and the collective rights of
consumers;
(ii) the general inspector for data protection, for the gathering, processing, handling
and protection of personal details;
(iii) the Ministry for Financial Affairs and the general inspector for financial
information, against money re-laundering and the funding of terrorism.
The bank guarantee fund
The bank guarantee fund has the purpose of protecting depositors from the insolvency
of a bank and the loss of their funds. The establishment and the operations of the bank
guarantee fund are disciplined in the consolidated law of the bank guarantee fund
dated December 14, 1994.
Membership of the bank guarantee fund is mandatory for all Polish banks and, in
certain cases, for the branches of foreign banks which operate in Poland. The
institutions covered by the guarantee system are obliged to pay annual sums into the
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