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Annual
Report 2022

25. Assets pledged as security for liabilities

Significant accounting policies

In the financial statement, the Group presents separately assets securing liabilities, where the recipient has the right to sell these assets or exchange them for another security

Classification of assets to individual measurement categories is made in accordance with the principles of determining the business model and assessing the characteristics of the contractual cash flows, referred to in Note 5.4.

Financial data

TYPE OF TRANSACTION AS AT 31.12.2022 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY
Repo transactions Bonds held for trading (measured at fair value through profit or loss) 50 923 56 393 50 942
Repo transactions Bonds measured at fair value through other comprehensive income 878 603 914 446 879 014
Total 929 526 970 839 929 956
TYPE OF TRANSACTION AS AT 31.12.2021 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY
Repo transactions Bonds held for trading (measured at fair value through profit or loss) 48 474 49 104 48 590
Repo transactions Bonds measured at fair value through other comprehensive income 797 623 800 000 799 631
Total 846 097 849 104 848 221

The collateral is established in line with the applicable money market standards for this type of transaction.

Apart from assets pledged as security for liabilities presented separately in the financial statement, the Group also identifies liabilities do not meet the criterion of separate presentation in accordance with IFRS 9.

 

TYPE OF TRANSACTION AS AT 31.12.2022 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY
Coverage of Fund for protection of guaranteed assets to the benefit of the Bank Guarantee Fund bonds 741 156 710 000
Coverage of payment commitments to the guarantee fund for the Bank Guarantee Fund bonds 310 489 300 000 173 465
Coverage of payment commitments to the resolution fund for the Bank Guarantee Fund bonds 616 945 654 250 372 593
Lombard and technical loan bonds 6 482 909 6 647 643
Other loans bonds 275 753 283 900 206 521
Debt securities issued loans, bonds 1 261 765 1 297 095 944 159
Coverage of the Guarantee Fund for the Settlement of Stock Exchange Transactions to Central Securities Depository (KDPW) bonds, cash deposits 36 334 36 334
Derivatives bonds 37 314 36 453 14 655
Uncommitted Collateralized Intraday Technical Overdraft Facility Agreement bonds 28 195 32 829
TYPE OF TRANSACTION AS AT 31.12.2021 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY
Coverage of Fund for protection of guaranteed assets to the benefit of the Bank Guarantee Fund bonds 781 770 740 000
Coverage of payment commitments to the guarantee fund for the Bank Guarantee Fund bonds 185 172 180 000 156 353
Coverage of payment commitments to the resolution fund for the Bank Guarantee Fund bonds 389 905 373 400 309 539
Lombard and technical loan bonds 5 480 924 5 800 164
Other loans bonds 300 272 297 700 276 327
Debt securities issued loans, bonds 1 402 335 1 405 857 1 086 532
Coverage of the Guarantee Fund for the Settlement of Stock Exchange Transactions to Central Securities Depository (KDPW) bonds, cash deposits 28 013 28 013
Derivatives bonds 187 753 182 509 152 687
Uncommitted Collateralized Intraday Technical Overdraft Facility Agreement bonds 39 029 32 196

The establishment of securities is a consequence of:

    • in the case of items relating to Bank Guarantee Fund – binding provisions of the Law on Banking Guaranty Fund BFG,
    • in the case of item relating to ‘Lombard and technical loan’ – policy and standards, applied by the National Bank of Poland NBP,
    • in case of issue of debt securities – binding provisions of the Law on Mortgage Bonds and Mortgage Banks,
    • in case of items relating to ‘Other loans’ and ‘Derivatives’ – terms and conditions of the agreement, entered between the Bank and its clients,
    • in case of item relating to Central Securities Depository KDPW – with the status of the clearing member for brokerage transactions.

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