NBP press release
The Press Office of NBP informs that following the adoption of the draft guidelines to the amendment of the Act on Narodowy Bank Polski by the Council of Ministers, the Monetary Policy Council and the Management Board of NBP will establish a common position on the proposed amendments, which will be submitted to the Government Legislation Centre.
At the same time, the Monetary Policy Council and the Management Board emphasize that both the procedures relating to the implementation of legislative amendments concerning Narodowy Bank Polski and their content must comply with the principle of NBP independence. The existing constitutional and regulatory competencies of the Monetary Policy Council constitute part of institutional governance which should be maintained. The drafted amendments cannot restrict the powers of the Monetary Policy Council, modify the procedure in which it is appointed nor change the number of its members.
At the same time, the Monetary Policy Council and the Management Board state that the prohibition on financing the State budget deficit by NBP, arising from the Constitution, must be maintained in the prepared draft amendment of the act and fully respected in practice.
The Council and the Management Board are of the opinion that establishing the Systemic Risk Council and the procedure for bank resolution is appropriate and needed in order to respond to the security and stability of the financial system more effectively. The above solutions will also contribute to maintaining price stability. They should be developed in consultation with all institutions responsible for the security of the Polish financial system.