Bank Guarantee Fund

The Act on the Bank Guarantee Fund

Pursuant to the requirements of the Act on the Bank Guarantee Fund of 14 December 1994 (consolidated text: Journal of Laws 09.84.711), we inform you on behalf of HSBC Bank Polska S.A. (hereinafter referred to as the “Bank”) that the Bank’s economic and financial situation expressed in capital ratio and liquidity ratio is stable. Capital ratio as at the end of December 2015 equals to 16.1%, which is well above regulatory minimum 8%.

We inform that deposits accumulated by our Customers in the Bank are protected by the Bank Guarantee Fund (“BGF”, the “Fund”). Pursuant to the provisions of the Act on Bank Guarantee Fund, a maximum amount of funds refundable to one depositor under the BGF guarantee is the equivalent of EUR 100,000.00.

Which deposits are under protection?

The protection covers PLN and foreign currency deposits held in the depositor’s name made by:

  • natural persons,
  • legal persons, including local governments,
  • unincorporated bodies of persons, if they have a legal capacity,
  • school savings funds and employee mutual assistance funds.

Deposits not covered by the guarantee

The guarantee does not cover deposits made by:

  • the State Treasury,
  • financial institutions, such as (among other): banks, investment companies, brokerage houses, entities providing insurance services, investment funds, pension funds, saving and credit cooperative financial institutions,
  • major shareholders of the bank (holding at least 5% of shares) and parent companies or subsidiaries of such shareholders, as well as the bank’s management.
  • firms which run a stock exchange, an OTC market or an alternative trading system, investment firms, foreign investment firms, foreign legal entities which perform brokerage activities as well as the National Depository for Securities, under the meaning of the Trading in Financial Instruments Act.
  • members of the management board and the supervisory board of a domestic bank and the individuals who are directors and deputy directors in this bank’s head office, as well as directors and deputy directors in the branches of this bank, in case these individuals performed their functions on the day the guarantee condition was fulfilled or during the current financial (accounting) year or during the year prior to the day the guarantee condition was fulfilled
  • directors and deputy directors of the branch of a foreign bank or the branch of a credit institution for whom the guarantee condition was fulfilled if these individuals performed their functions on the day the guarantee condition was fulfilled or during the current financial (accounting) year or during the year prior to the suspension of the bank’s activities or prior to the day the guarantee condition was fulfilled

Rules of the payment of guarantee funds

Guaranteed funds will be disbursed by the receiver or an entity with whom the Management Board of BFG enters into an agreement for disbursement of guaranteed funds, in places and on dates to be publicly announced by the Fund. The announcement may be also published in a nation-wide newspaper. The aforesaid information will be also posted on the Fund’s website.

The amount due may be collected in cash, or transfer to a specified bank account may be requested, in a place and on a date set by the entity disbursing the guaranteed funds. After that period, one will be able to collect guaranteed funds at the Fund’s – when an appropriate application for disbursement of guaranteed funds has been completed – within 5 years of materialisation of the guarantee’s condition.

The procedure for disbursement of guaranteed funds should be finalised within 20 business days of the date of materialisation of the guarantee’s condition. Should any circumstances occur which render it impossible to disburse the guaranteed funds within the aforesaid deadline, the Polish Financial Supervision Authority may extend the disbursement deadline by 10 business days, counted from the date of expiry of 20 business days of the date of materialisation of the guarantee’s condition, at the latest.

Lack of guarantee protection

In addition, we inform that no guarantee protection is available if:

  1. a claim arising in connection with the performance of banking activities will not be protected by the statutory guarantee system, in particular if persons making a deposit are not considered a depositor,
  2. in connection with the performance of an activity other than a banking activity, an entity covered by the statutory guarantee system issues a document to the depositor’s name confirming its financial liability,
  3. services performed by the Bank consist in intermediation in concluding agreements pursuant to which any claims of a person using and interested in using our services arise or may arise against another entity which is not covered by the guarantee system.

Should you have any doubts as to the above or wish to receive additional information, please contact your Relationship Manager or the nearest Bank’s branch.

We also encourage you to visit the Bank Guarantee Fund website.

You are leaving
about.hsbc.pl

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.

Legal | Cookie policy | Privacy statement