KNF signs an agreement with Chinese peer

Poland's Financial Supervision Authority (KNF) and the China Banking Regulatory Commission (CBRC) signed a memorandum of understanding on cooperation between the two institutions. “The current agreement is an update of the agreement signed in 2005. The main goal of the changes is to take into account the increased activity of Chinese banking institutions on the Polish market. The most important issues covered by the agreement are: cooperation and exchange of information for banking supervision in both countries under normal conditions And in a crisis situation,” KNF said in its statement. The agreement also concerns cooperation between employees of the two institutions in carrying out inspections and in the process of assessing possible acquisitions and mergers and giving consent to start operations.