LEGAL STATUS AND COMPETENCES OF BODIES OF THE NATIONAL BANK OF POLAND
 
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Uniwersytet Jagielloński
CORRESPONDING AUTHOR
Agata Hiacynta Tarnacka   

Uniwersytet Jagielloński
Publish date: 2019-10-25
Submission date: 2019-05-30
Acceptance date: 2019-10-25
 
JoMS 2019;42(3):265–282
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ABSTRACT
Objectives:
The aim of the analysis was to present the current state of the organization and operation of the National Bank of Poland and postulates regarding changes that could strengthen its position as an institution implementing monetary policy.

Material and methods:
The subject of consideration of the article titled Organization and operation of the National Bank of Poland are legal acts that are the basis for the organization and operation of the National Bank of Poland. The dogmatic, legal and historical-legal method was applied.

Results:
The Monetary Policy Council - each year set monetary policy and submits it - only to the Sejm. In addition, the organs of this major financial institution cooperate in shaping and conducting Polish foreign exchange policy: the NBP Management Board conducts periodic reviews of monetary and monetary settlements and foreign exchange transactions, while the Monetary Policy Council determines the upper limits of liabilities resulting from taking loans and credits from foreign banking institutions by the NBP and and the President of the NBP has the competence to decide on the granting of an individual foreign exchange permit.

Conclusions:
In its long history, the Polish central bank has become a bank not only independent, but also meeting European standards, manifesting itself even in the term of office of the President of the National Bank of Poland, or in compliance with the principles of accounting. The institution has three basic roles: a state bank, an issuing bank and a bank of banks. In particular, the scope of his competences includes shaping and implementing monetary policy, which the National Bank of Poland does independently. In addition, he runs his own financial management having financial privileges and a bankruptcy privilege.

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