Cooperation with financial institutions and agreements with the central bank

In the discussed period, the Bank held 24 loro accounts denominated in PLN for foreign and local banks. The loro accounts in the Bank’s accounting records represent an external source of cost-free working capital used in the Bank’s operations. These accounts are used mainly for purposes of customer and bank-to-bank transfers.

In 2019, the Bank continued its cooperation with other domestic and international financial institutions, including investment funds, insurance companies, pension fund companies, brokers and banks, which enabled the conclusion of a wide range of treasury and deposit transactions. A number of contracts were concluded with new and existing contractors from these segments and actions were taken towards the signing of new contracts, in line with ISDA and Polish Bank Association recommendations.

Agreements with the central bank

• Annex No. 13 of 24.05.2019 to the Agreement regarding the terms and conditions of opening and maintaining a bank account in the SORBNET2 system.
• Annex No. 14 of 15.11.2019 to the Agreement regarding the terms and conditions of opening and maintaining a bank account in the SORBNET2 system.
• Termination on 30.08.2019 the Agreement on indirect participation in the STEP2 SEPA Credit Transfer system via the National Bank of Poland, concluded on 10.10.2016.
• Termination on 5.09.2019 the Agreement regarding the terms and conditions of opening and maintaining a bank account in EUR in the TARGET2 system, concluded on 29.06.2016