Corporate Governance Principles Addressed to Banks
DOI:
https://doi.org/10.15678/ZNUEK.2014.0934.1007Keywords:
banks, corporate governance, codes of good practice, self-regulationAbstract
In January 2014 the Polish Financial Supervisory Authority published the proposal, ‘Corporate governance principles for the institutions supervised by the PFSA’. This document largely takes into account the Basel principles for sound corporate governance for banks. The paper offers a definition of corporate governance and the importance of codes of good practice. Emphasis is placed on the specificity of the governance of banks and the resulting need for different principles to be formulated. A brief account of the BCBS and UKNF codes is given. Based on an analysis of their published declarations, the paper examines the scope of implementation by Polish banks of the code of best practice for WSE listed companies. It then assesses, based on survey results, the implementation of the BCBS recommendations. These analyses lay the foundations for identifying the scope of improvements necessary in corporate governance at Polish banks. The paper also includes a commentary on the draft code prepared by the PFSA.
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