Banking Guarantee Fund to control troubled bank re
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Banking Guarantee Fund to control troubled bank recovery
May 16, 2019   
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Idea Bank will fall under oversight of the Banking Guarantee Fund BFG to support its restructuring and protect deposit holders, according to a decision of the market regulatory body KNF announced by the bank in a market filing.
The KNF's role will be to "support the process of developing and implementing a restructuring plan by the current management board, which could lead to increased trust in the bank and its leadership," the bank said quoting the KNF justification.
Polish banking law allows the KNF to set overseers for banks and defines its scope of competencies individually for each occasion.
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