A creditworthiness estimation system is the main instrument of the risk-management system of each private bank. Over the last ten years the amendments have been on numerous occasions introduced to the regulations concerning the Polish banking system, thus making it necessary for banks to adapt themselves and their credit departments to the new situation. The aim of this study is to analyse the basic changes of Polish standard-setting legislation in its part on credit risk estimation in relation to entrepreneurs. It points to these elements of the solutions which - in common opinion - appear to be most restrictive (timely settlement of credit exposures). It is also an attempt to evaluate the logic behind the amendments introduced, from the point of view of the bank's pragmatics. It should be kept in mind that apart from the macro-economic factor, another key element determining the quality of a bank's credit portfolio, is the model of credit risk evaluation used by a particular bank, which, despite the imposed external legal framework, has not been conformed (and will never be) a standardised form. The article ends with a review and evaluation of the most important proposals of legislative changes concerning the assessment of the individual credit risk to be introduced in 2004, in the light of the criticised systemic changes.