Cooperation with financial institutions

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).

• Agreement to act as a Money Market Dealer concluded on 14 December 2020.

• Agreement „Currency swap transactions” concluded on 30 December 2020.