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Poland - Financial sector assessment program : housing finance - technical note (Inglês)

This note primarily addresses the mortgage market development objectives, although the regulator is encouraged to consider the use of the macro prudential tools at its disposal for institutional and systemic stability of the mortgage sector as the current portfolio outstanding is large and risky and thus presents a negative performance outlook. The rest of the material is structured as follows. Firstly, brief background information on recent Polish mortgage sector evolution provides context. Secondly, details of certain regulatory initiatives are discussed with the view on potential strengthening. Thirdly, suggestions for modernization of certain features of the current capital market funding framework are provided; specifically on expanding the issuance of Mortgage Covered Bond (MCBs) to the universal banks as well as bringing the framework in line with the latest global best practices.


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    Europa e Ásia Central,

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    Europa e Ásia Central,

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    Poland - Financial sector assessment program : housing finance - technical note

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    capital market funding;mortgage loan;cover pool;mortgage portfolio;Loan terms & conditions;mortgage bank;legal and regulatory framework;rating agency;Mortgages;mortgage lending;prevailing interest rate;global financial crisis;credit risk profile;universal bank;credit risk insurance;long term funding;related party transactions;portfolio risk profile;housing subsidy program;Capital Adequacy Ratio;multiple risk factors;mortgage market;asset and liability;availability of credit;deposit guarantee scheme;fees and charge;case of default;bank insolvency law;deposit insurance guarantee;asset price bubble;mortgage market development;deterioration in credit;capital market transaction;deposit taking institution;global best practice;compensation of loss;residential real estate;availability of fund;adjustable rate mortgage;interest rate swap;capital market access;adjustable interest rates;bank insolvency framework;real estate collateral;interest rate subsidy;real estate price;risk management practice;types of income;term capital;real estate asset;social and institutional;interest rate volatility;interest rate calculation;interest of depositor;local currency loan;fiscal liability;back end;regulatory initiative;mortgage payment;regulatory guidance;asset quality;housing finance;systemic stability;capital allocation;regulatory treatment;mortgage finance;macro policies;rising unemployment;macro policy;underwriting standard;mortgage product;aggregate portfolio;ceteris paribus;global experience;property price;specialized bank;loan service;income increase;market segment;provisioning rules;payment amount;banking system;extension period;weighted average;consumer protection;regulatory environment;foreign exchange;lender discretion;economic slowdown;Credit Score;bank group;legal limit;risky practice;mortgage lender;legal framework;negative effect;foreclosure procedure;eligibility criterion;negative amortization;funding source;currency risk;insurance product;sovereign rating;back up;legal opinion;risk drivers;regulatory support;legal certainty;regulatory issue;minimum level;credit institution;fiscal exposure;sovereign risk;irregular income;underlying mortgage;legislative framework;fixed rate;Risk Transfer;borrower default;bank's depositors;macroeconomic impact;global policy;Market Risk;liquidity risk;institutional stability;target market;capital ratio;global market;contractual arrangement;loan program;compensatory measure;asset tests;funding mechanism;risky borrower;prices fall;asset limit;swap counterparties;bankruptcy estate;parent support;capital consumption;bond issuer;bank failure;counterparty risk;regulatory practice;risk assessment;borrower's obligation;aggregate data;loan characteristic;portfolio analysis;depressed area;industry sector;lending standard;regulatory adjustment;national market;accurate knowledge;foreclosed property;repayment capacity;conservative assumption;price cycle;recovery rate;support infrastructure;independent appraisal;loan origination;portfolio review;foreclosure process;banking policy;development perspective;expected loss;mortgage default;property appraisal;regulatory requirement;impact analysis;spatial concentration;beneficial treatment;liquidity ratio;consumer awareness;regulatory oversight;emergency circumstance;foreclosure action;defaulted loan;delinquent borrowers;unemployment increase;legal proceeding;housing supply;aggressive portfolio;mortgage industry;global context;long-term funding;commercial mortgage;short-term deposit;maturity gap;mortgage financing;loan sale;young families;primary focus;information exchange;public awareness;tax environment;loan eligibility;market size;domestic financing;foreign bank;financial system;moral hazard;adverse selection;transparent procedure;risky portfolio;property market;geographical area;regulatory perspective;Macro Prudential;external expert;housing price;market stability;bank funding;domestic funding;systemic risk;fiscal risk;portfolio performance;foreign investor



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