Banking sector overview | Banking today and tomorrow | July 2024

4 July 2024 | Banking today and tomorrow, Knowledge, News

Challenging WIBOR could ruin our economy

WIBOR has a strong legal basis and is set in a transparent manner, and undermining it risks destabilising the country and losing Poland’s credibility in the financial markets. Fortunately, in addition to the banks, key public institutions are aware of this and are unanimously defending WIBOR.

Source: Bank.pl

New requirements for banks. Implications for customers

Banks will have to build up a so-called countercyclical buffer by retaining more capital. Customers are unlikely to be affected by these requirements, but dividends could fall.

At its last meeting, the Financial Stability Committee (KSF) presented its recommendations on the amount of the so-called countercyclical buffer. It is to be 1% after one year from the entry into force of the relevant ordinance and 2% after two years. The ordinance is to be issued by the Minister of Finance, and his representative at the KSF meeting accepted this recommendation and stated that legislative action would be taken. All indications are that the new prudential requirements will come into force later this year.

Source: Rzeczpospolita

ZBP: There are almost 16 million mobile-only customers. This is more than 2 million more than in Q1 2023

The Polish Bank Association (ZBP) has published the Netbank report for Q1 2024. The document contains information about the popularity of online and mobile banking in our country. Among other things, it shows that at the end of March there were more than 43.4 million valid agreements allowing individual customers to access internet banking in Poland. This represents an increase of 1% compared to the previous quarter. At that time, there were more than 43 million such agreements.

Source: Cashless.pl

ECF 2024 recommendations on banking risks, cybersecurity, regulation and democracy

The European Financial Congress presented the key recommendations of the CEOs of the largest Polish banks.

Source: Bank.pl

NBP report on the stability of the financial system, June 2024

The financial system is stable and the banking sector – its key component – remains resilient to shocks, the National Bank of Poland (NBP) said in its latest report on financial sector stability.

Source:Bank.pl

The 6 most important changes for the payment services industry and Open Finance – PSD3/PSR + FIDA package

On 28 June 2023, the European Commission unveiled a new legislative package that aims to revolutionise the payment services sector in the European Union. The proposals include the third version of the Payment Services Directive (PSD3) and the accompanying Payment Services Regulation (PSR). The new legislation is designed not only to unify and simplify payment transactions, but also to significantly increase their security. The introduction of these regulations, scheduled for 2026, is expected to address new challenges and opportunities in the rapidly evolving financial sector.

Source: Puls Biznesu

Map of Polish Fintech

The cashless.pl portal has once again published a map of Polish fintech. Kochański & Partners was included in the consulting and institutions category.

Source: Cashless.pl

Banks getting bolder with generative AI

The role of generative AI in business is growing: 43% of companies worldwide, including Poland, are already investing in the technology, with a further 30% planning to do so in the coming year, according to EY’s Reimagining Industry Futures Study 2024 report. Finance is one of the industries which see the most potential for GenAI. Banks are keen to invest in the technology, hoping to increase sales, streamline processes and better personalise products and services, among other benefits. On the other hand, GenAI also poses a number of challenges, such as those related to confidentiality and data integrity.

Source: Bankier.pl

“Green Finance in Poland 2024” report

The report was produced in cooperation with the Institute for Responsible Finance, the European Financial Congress and the Know-How Hub. The partners of the report are the Polish Economic Institute and the Polish Bank Association.

Source: Polish Bank Association

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Overhauling the SENT system: from clothing to concrete and internal logistics. How to prepare?

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A revolutionary reform of Poland’s capital market – ETFs and the Qualified Investment Fund

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Directive 2024/825 – the European Union’s response to greenwashing

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The deposit-return system was supposed to be simple. Eco-friendly. Leak-proof. Tax-neutral. However, it took just a few months for serious doubts to emerge. The first loopholes are no longer just theoretical, they are in plain sight. The mechanisms for abuse can be described quite precisely, and the scale of potential losses may be much greater than anticipated. Below, we examine where the system is losing control and how this can be addressed.

Voluntary reporting in light of amendments to the CSRD – the importance of choosing simplified reporting standards

The changes to EU sustainability reporting legislation introduced in 2025 have significantly reshaped companies’ responsibilities in this area. This is because, following the update to the Corporate Sustainability Reporting Directive (CSRD), only the largest entities are now subject to a mandatory obligation to report on ESG issues.

Contact us:

Tomasz Leśko

Attorney-at-law / Partner / Disputes of Financial Institutions

+48 22 326 3400

t.lesko@kochanski.pl