Bank Guarantee Fund

The Bank Guarantee Fund (BFG) is an institution in Poland that guarantees deposits in banks and credit unions. Its operations are regulated by the Act of June 10, 2016. The Fund is headquartered in Warsaw at ul. ks. Ignacego Jana Skorupki. Its objectives include not only guaranteeing funds up to €100,000 per depositor but also providing financial assistance to banks at risk. In the years 1995–1996, a key task of the BFG was to pay out funds to depositors of bankrupt banks, while in later years, the focus shifted to stabilizing the banking sector and preventing the causes of bank failures. The BFG is primarily funded through mandatory contributions from banks, with a minimum fund level of 0.8% of guaranteed deposits and a target level of 2.6% planned for 2030. The Fund's guarantee activities ensure depositors quick access to guaranteed funds, and the payout process is initiated once a bank files for bankruptcy. The Act also introduced changes to accelerate payouts and increase limits for certain categories of funds. Additionally, the BFG engages in the restructuring of troubled banks, as was the case with Podkarpacki Bank Spółdzielczy and Idea Bank, helping to minimize the risk of deposit losses for customers. The Fund also conducts analyses of banks' situations and oversees their recovery efforts. Since 1995, the BFG has had several presidents, with the current leadership consisting of Maciej Szczęsny as president and Sławomir Stawczyk as deputy.