Guarantee fund contributions won’t be increased – BFG head

The Polish banks will not have to pay higher contributions to the Banking Guarantee Fund (BFG) as the sector is currently stable and the funds already gathered are on adequate levels, BFG head Zdzislaw Sokal said. “BFG funds are at a sufficient level, they are even higher than the average in Europe. The contributions need not increase because if there are no situations requiring the payout BFG funds, they will accumulate,” he explained. For 2017, the contribution levels were set at PLN 915 million for the sector and bank resolution fund contribution at PLN 1.18 billion.