Polish prudential regulations compare relatively well with western standards, thanks to efforts to bring domestic laws in line with European Union (EU) requirements, particularly in capital adequacy and consolidation rules for banking groups, according to Fitch Ratings. In its report, entitled Polish Prudential Regulations, Fitch says EU accession and new ownership structures have been the main drivers of the regulatory changes as they have required the Polish central bank – Narodowy Bank Polski – to co-operate more closely with its European counterparts. Polish Accounting Standards have been modified to bring them closer in line with International Accounting Standards (following coordinated efforts between auditors, bank regulators and the Ministry of Finance) so as to make consolidated reporting more transparent. Loan classification rules were changed in January 2004, with amendments to bring them closer in line with current western European standards. Prior to these changes, weaknesses in the prudential framework had been highlighted by macroeconomic developments in 2001/2002, which showed up the inadequacies of the credit classification and provisioning criteria in preventing large losses when entities fail.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more