KNF head: merging KNF with NBP in politicians hands

The draft law on the integration of the KNF with the NBP was prepared more than a year ago and is still waiting for a political decision said the president of the Financial Supervision Authority KNF Marek Chrzanowski. He added that integration would guarantee independence for supervisors, especially in a situation of growing state participation in the banking sector. “In a potential crisis situation, which fortunately is not a threat at this moment, but in the future, this risk may always materialize, we will act more efficiently as one institution. The inclusion of the Financial Supervision Authority into the Central Bank will guarantee us a quick flow of information and access to all necessary instruments. sun, you have to think about what will happen when it starts to rain, Chrzanowski explained. “A significant issue is the fact that the state involvement in the banking sector is increasing. The two largest banks are in the hands of the state, I believe it is worth ensuring more independence for the supervisor to be subject to the independent president of the central bank. Everything remains in the hands of politicians. The bill in this respect has been prepared more than a year ago. We are still waiting,” he added.