Maciej Krzysztoszek of KNF said that the reason for the decision was the poor financial situation of the jump. This resulted, among other things from the fact that the loans were not in a timely manner, or at all. As a result, the company had negative own funds (minus 92 million PLN) and showed a current loss of over 46 million.
Maciej Krzysztoszek added that prior to the decision to suspend the jump Poland has not reported any bank or other credit unions, who would be willing to take the money.
their savings in the spring Poland has 15 thousand 800 members. Maciej Krzysztoszek announces that, in accordance with the law the money to pay the Bank Guarantee Fund within 20 days. Deposits are guaranteed to be the equivalent of 100,000 euros. Maciej Krzysztoszek added that BFG give on its website that the bank will carry out the payment. Then, to the establishment of this bank must submit an ID card.
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Aktywa not sufficient to meet its obligations
– The statutory duty to issue a decision on the basis of art. 74k paragraph. 1 of the Law on Unions – credit is due to the fact that the assets of credit unions Poland are not sufficient to meet its obligations – explained.
Management receivership since July
From the end of July last year Credit unions in Poland was established receivership manager, who made information on the financial situation at the box office the day before the establishment of a compulsory administrator. The report on the matter was submitted to the Polish Financial Supervision Authority in February.
As announced, unions Poland on July 28, 2015 years showed negative own funds in the amount of minus 80.9 million zł and a negative capital adequacy ratio of minus 58.14 per cent., which – as the Commission – is a deep insolvency.
overpriced valuation of the company
– manager receivership revealed that made by the previous management valuation of companies owned by credit unions Poland were inflated – the value of the shares of these companies in the balance sheet CU Poland has been revised downwards from 43.7 million to 8.8 million zł zł – added.
addition, as reported at the end of 2015 had a negative cash funds amounting to minus 92 million zł, showed the current loss of minus 46.2 million zł and uncovered losses from previous years in the amount of minus 65.9 million zł. Currently, the deposits collected by the State 15.8 thousand. Credit unions are members of the Polish 172.9 million zł.
National Association refuses to help
The Commission also announced that on January 27 this year. National Association of Savings – Credit (National Association) announced Unions Polish Financial Supervision Authority and that the obligation referred to in Article. 74c paragraph. 2 of the jump filled by letter of 28 May 2015. Passing on information to refuse assistance. – In addition, on 16 February 2016. Board of the National Fund, in response to a new request of the trustees unions Poland on 1 February 2016., Passed a resolution to refuse unions Polish financial assistance from the stabilization fund. Therefore, it has become impossible to independently carry out repair process by CU Poland – explained.
There was not willing to take
In a press been informed that 9 February. Financial Supervision Commission “unanimously concluded that any other co-operative cash does not have the capacity to take over the Polish credit unions in a way that can ensure the safety of deposits held by the hand and discontinued the administrative proceedings conducted in this regard.”
KNF decided to also check the possibility of taking over Polish credit unions by the bank, but no one has reported readiness over this money.
Notifications on suspicion of committing crimes
The Commission in connection with “serious irregularities” of previous Polish government unions, and which have been disclosed, among others, by the manager of trustees, submitted to the Appellate Prosecutor’s Office in Warsaw notifications on suspicion of committing crimes.
– In connection with the deep insolvency unions Polish disclosed by the manager of trustees and the lack of prospects for restructuring against the refusal to grant financial assistance by the Fund National and lack of consent of the banks to take over unions Poland, the only solution resulting from the law is the suspension of unions and Poland speech the bankruptcy petition of money, which is a formal prerequisite to run the disbursements guaranteed by the Bank Guarantee Fund (BFG) – stated in the message.
BFG will pay money
According to the law, guaranteed funds are paid by the BFG within 20 working days from the date of filing for bankruptcy cooperative cash.
As recalled, BFG guarantees payment of deposits in total to the equivalent of 100 thousand. euro in gold, regardless of the number of accounts held by the depositor at the credit unions. In the case of a joint account each of the co-owners are entitled to a separate limit of guaranteed funds.
National Association criticizes KNF
spokesman for the National Unions Andrzej Danube in sent a statement assessed that the suspension business credit unions Poland points to “the total ineffectiveness of measures taken by the manager of trustees appointed by the Financial Supervision Authority, which has developed a rehabilitation program and has not taken restructuring actions unions Poland.”
– National Association appeared to Chairman Andrzej Jakubiak (FSC Chairman – PAP) to change the manager pointing to the significant risks associated with the person appointed by the Commission for the position. Unfortunately, the Chairman Jakubiak not accede to this request and in the light of the knowledge of National Association not directed him to a meeting of the Commission – he added.
ZUS suspend transfers of benefits to credit unions Poland
in connection with the decision of the Financial Supervision Commission to suspend the activities of Cooperative Savings – Credit Poland in Warsaw, Department of Social Security withholds benefits to the customers’ accounts in the specified Cashier. – At the same time, we ask our customers receiving benefits through unions “Poland” contact institution ZUS and change the bank account to which the Department poured service – writes ZUS in a statement.
This is the fourth cash
JUMP Poland is the fourth co-operative cash, to which the Financial Supervision Authority has applied for bankruptcy. Previously, this applied to Wołomin unions, community credit unions, and at the beginning of this year, credit unions Kujawiak.
Last year, the president of BFG Jerzy Pruski said during one of the meetings of the parliamentary committee that the Fund has paid a total of over 798 million zł customers unions Community and 2 billion 200 million zł customers unions Wołomin. In total, he added, BFG paid the guaranteed funds almost 44 thousand customers of both banks.
So far, a total of eight counters KNF introduced receivership. Since taking cash supervision of the Commission in 2012, some banks were taken over by banks or other credit unions.
The published in July last year KNF information about the situation sector unions in the first quarter. 2015 years is written, that is dominated by small cash, in which the sum of assets does not exceed 100 million zł (29 offices), they have, however, only 8.4 per cent. total assets of banks operating. In turn, the value of the assets of the three largest cooperative banks exceeded 500 million zł, and the assets of two of them exceed 1 billion zł (about, as he admitted recently senator Bierecki about Kasa Stefczyka). As the Commission gave the three largest cash held a total of more than 65 percent. sector assets, ie. 8 billion 404 million zł.
In September last., during the debate on the report of the parliamentary finance committee on the situation in the unions FSC Chairman Andrzej Jakubiak said that 12 banks, operating at 49, has negative own funds. He added that 31 cash generating current loss. “Their situation is not changed, even with every month is worse,” – said Jakubiak then.
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TVN24 / x-news
KNF, abo
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