Polish Bank Guarantee Fund waives contributions for deposit guarantees

Kitco Media
By Reuters
Published:
Updated:
Reuters
WARSAW, Feb 28 (Reuters) - Poland's Bank Guarantee Fund (BFG) has scrapped contributions banks need to make to secure deposits in 2023, it said on Tuesday, citing decreasing risk in the sector.


The BFG Council set the total level of banks' contributions in 2023 at 1.455 billion zlotys ($327.4 million), including nothing for the bank guarantee fund, compared to a total of 2.195 billion zlotys in 2022, it said in a statement.


"The decrease in risk in the banking sector made it possible to reduce the target level (...), thanks to which in 2023 banks will not pay even a single zloty of contributions to the bank guarantee fund," Piotr Tomaszewski, the head of BFG, was quoted as saying in a statement.


"As a result, the burden of contributions to BFG this year is the lowest since 2014." The total amount of contributions to the bank resolution fund in 2023 will amount to 1.455 billion zlotys compared to 1.693 billion zlotys in 2022, BFG said.
($1 = 4.4440 zlotys) (Reporting by Anna Wlodarczak-Semczuk and Pawel Florkiewicz; editing by Emelia Sithole-Matarise)

Messaging: anna.wlodarczak.thomsonreuters.com@reuters.net))
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