19:28 6 May 2025
Draft law: Banks will be able to provide confidential information during bankruptcy
A draft amendment to Poland’s Banking Law and Restructuring Law, published Tuesday by the Ministry of Finance, proposes allowing banks to share confidential banking information with authorities overseeing restructuring and bankruptcy proceedings. Currently, banks face legal uncertainty and risk penalties—up to PLN 1 million or three years in prison—for disclosing such information without clear legal basis.
The new regulation aims to streamline communication and improve the efficiency of these legal processes, while limiting the breach of banking secrecy to only what is strictly necessary. The new rules will apply even to proceedings initiated before the law takes effect, which is planned for 14 days after its official publication.
(PAP)
