ECB calls for change to proposed Polish central bank law
Proposal on loans to bank guarantee fund would break prohibition on monetary financing, ECB says
The European Central Bank called on Poland’s government to change a proposed law governing the country’s central bank and its role in resolving failed banks.
The National Bank of Poland asked the ECB for its formal opinion on the changes proposed by the government. The amendments would change the law governing Poland’s bank guarantee fund, deposit guarantee scheme and banking resolution regime.
Poland is a member of the European Union but not of the eurozone. The ECB must be consulted over
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