Protection System of the BPS Association
Protection System of the BPS Association
The Cooperative Bank in Szczytno is a participant in the Protection System of the BPS Association
The Cooperative Bank in Szczytno has been a participant in the Protection System of the BPS Association from the very beginning!
The Protection System of the BPS Association was approved in December 2015 by the Polish Financial Supervision Authority, marking the beginning of the establishment of a solidarity guarantee and support system for cooperative banks in Poland (Art. 22 sec. 4 of the Act of December 7, 2000 on the functioning of cooperative banks, their association, and associated banks, Journal of Laws of 2014 item 109 with later amendments).
Guarantee of liquidity and solvency
The participants of the Protection System of the BPS Association are the majority of cooperative banks (274 banking outlets) and Bank BPS S.A. as the Associating Bank. The primary task of the implemented Protection System is to ensure liquidity and solvency for its participants under the principles defined in the law, as well as in the agreement of the Protection System of the Association.
Protective Funds
The Protection System of the BPS Association conducts constant monitoring of the current financial situation of all participants of the System and also has the authority to carry out preventive and supportive actions for these participants. All members of the BPS System have created appropriate Protective Funds, which can be used in case of temporary financial problems of a given participant.
The Protection System of the BPS Association aims to provide a financial sense of security not only to the banks that form the System but also to their clients.