2010年-世界发展银行全球_Credit_Unions_in_Poland___Diagnostic_and_Proposals_on_Regulation_and_Supervision_93页_2mb

Credit Unions in Poland: Diagnostic and Proposals on Regulation and Supervision

Core Content

This report provides an analysis of the current state and regulatory framework of credit unions (CUs), known as SKOKs in Poland, and offers recommendations for improving their regulation and supervision. It highlights the need for a more robust and effective supervisory model to ensure financial stability, transparency, and confidence in the sector.

Main Points

1. Regulatory Context

• The new Law on Credit Unions, enacted in November 2009, aims to transfer the supervision of SKOKs from the National Association of Credit Unions (NASCU) to the Polish Financial Services Authority (PFSA), which oversees other financial institutions.
• The law is still under review by the Constitutional Court, and its implementation is contingent on the court's approval.
• The law is expected to come into effect within 60 days of the court's decision.

2. Current Situation of SKOKs

• SKOKs collectively represent a small percentage of total financial sector assets in Poland, with assets amounting to PLN 12.7 billion (US$4.2 billion) as of mid-2010.
• They serve over 2.1 million members, which is about 15% of Polish households.
• SKOKs have experienced remarkable growth, especially in the last five years, with annual growth rates exceeding 20%.
• The sector has been successful in reaching low-income and vulnerable populations, particularly women and self-employed individuals.

3. Financial Performance and Challenges

• Despite growth, SKOKs reported a net loss of PLN 14 million in 2009, with a negative net profit/asset ratio of -4.0%.
• Non-performing loans (NPLs) have increased, with the NPL ratio rising to 12.7% in March 2010.
• Loan loss provisions have also increased, but not sufficiently to cover the rising delinquency.
• The average savings per member is US$1,900, and the average loan per member is US$1,460, which are relatively low compared to international standards.

4. Regulatory and Supervisory Recommendations

• Clear roles for NASCU and PFSA must be defined in the law and secondary regulations.
• Minimum capital adequacy ratios should be established, with a 5% threshold in the new law, but international standards suggest 8%.
• Internal audit functions should be required, with independent, qualified third parties conducting audits.
• Accounting standards should align with those used by other financial institutions.
• Governance structures should be strengthened with clear procedures, responsibilities, and penalties for misconduct.
• Delegated supervision should focus on larger SKOKs and those with sustainability issues or conflicts of interest.
• PFSA should ensure close oversight of NASCU to maintain the quality of supervision.

5. International Comparisons

• SKOKs in Poland are more compact than in other countries, making supervision easier.
• In Ireland, UK, and Canada, CUs have different performance metrics and regulatory frameworks.
• The KAPER standards provide a benchmark for capital, asset quality, liquidity, effectiveness, and profitability.

Key Information

• SKOKs have grown significantly since 1992, with 61 SKOKs operating in Poland.
• Digital banking services such as e-SKOK and Visa debit cards are increasingly used, with 7% of members using e-SKOK and 35% using Visa cards.
• ATM networks are well-developed, with 747 machines across the country.
• SKOKs have not experienced any bankruptcy during the financial crisis, thanks to the resilience of the Polish economy.
• The new law is aligned with IMF and World Bank recommendations and aims to align with EU regulatory standards.

Conclusion

The report emphasizes the importance of effective regulation and supervision to ensure the stability and transparency of the SKOK sector. It recommends that the PFSA and NASCU work collaboratively to implement a comprehensive regulatory framework, with special attention to larger SKOKs and enhancing governance and financial health. The goal is to improve the financial soundness of the sector and protect depositors' savings.