KNF should merge with NBP – Chrzanowski

President of the financial market regulator KNF Marek Chrzanowski said that his organization should be merged with the Poland's Central Bank (NBP). According to him, both institutions would profit from such merger as KNF oversees micro-prudential factors, while NBP is a macro-prudential supervisor. Unified they would be more efficient in restructuring financial sector if such need arises. “There is not any work being done on such merger. We don't have any power to initiate such decisions, but I think such bill should be introduced. I hope that either MPs, or other institution which has a power to introduce a bill will work on one,” Chrzanowski explained, citing other EU examples. According to Chrzanowski, 21 member states have central banks supervising the financial system.