Integrated Report 2020

Cooperation with financial institutions

As at 31 December 2020, the Bank maintained correspondent relationships with approximately 1,000 banks, including 54 nostro accounts with other banks for 25 major currencies.

During the period under review, the Bank maintained 18 loro accounts exclusively in PLN for foreign banks. The loro accounts maintained in the Bank’s books constitute an external source of acquiring cost-free working capital for the Bank’s operating needs. Through these accounts, customer transfers and bank-to-bank transfers are primarily executed.

In 2020, the Bank continued its cooperation with other domestic and foreign financial institutions, brokers and banks, which enabled it to enter into a wide range of treasury and deposit transactions. A number of agreements were concluded with new and existing counterparties in these segments and steps were taken to introduce new agreements, in line with the recommendations of ISDA and the ZBP (Polish Banking Association).

Agreements with the National Bank of Poland concluded in 2020

  • Agreement to act as a Money Market Dealer concluded on 14 December 2020.
  • Agreement „Currency swap transactions” concluded on 30 December 2020.

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