NBP to introduce extended powers to Banking Supervisory Commission

National Bank of Poland (NBP) president Hanna Gronkiewicz-Waltz announced plans to review the banking law and introduce consolidated banking supervision to put Polish law more in line with European Union (EU) requirements. She believes the Banking Supervisory Commission (KNB) powers should be extended over the bank's subsidiaries and shareholders. Gronkiewicz-Waltz believes some of the shareholders, which cannot be examined by the KNB, generate risk. The banks require tight control since the NBP last year decided to lower mandatory levels of banking reserves, which not only provided the banks with a chance for larger yields, but also made Polish law more consistent with EU requirements. (Prawo i Gospodarka, page 10) P.S.