“Rzeczpospolita": special bank to save banks established

The Bank Guarantee Fund (BFG) has created an institution that can be used for compulsory restructuring, “Rzeczpospolita” daily said on Friday. The Polish Financial Supervision Authority confirmed that it issued a permit to establish a bank operating as a joint-stock company under the name First Bank BFG.

BFG Bank is a bridging bank that can be used to continue the business of banks in restructuring until they are taken over by new investors. The creation of such a bank has been repeatedly suggested by the banking community.

(PAP)