The article presents results of a survey conducted in the third quarter of 2005. Survey forms were filled in by 15 commercial banks representing 42.94% of the balance-sheet sum of the commercial banking sector and by 142 cooperative banks. The study aimed at determining the actual impact of the amendments already introduced into prudential regulations (i.e. the liberalisation of the rules on the establishment of specific provisions and implementing the IAS and ISFA) as well as the potential impact of the New Capital Accord on the accessibility of credits for small and medium-sized enterprises. As study results show, the liberalisation of the principles for the establishment of specific provisions failed to contribute to improving the accessibility of credits for SMEs, since banks strove first of all to improve the financial results in order to increase the added value for the shareholders (commercial banks). In the case of cooperative banks, the necessity to achieve the next capital threshold was an important incentive.

The introduction of IAS and ISFA has contributed, on the other hand, in the majority of banks that apply it, to the increase in allowances for credit exposure to SMEs, which could reduce their interest in increasing their exposure to this segment of the market.

The potential impact of the introduction of the New Capital Accord will be a product of several factors, among which the most important are: the reduction of capital requirement for credit risk, the introduction of capital requirement for operational risk and costs incurred by the banks in connection with the introduction of Basel II. In the short period after the introduction of new capital regulations one should not expect any increase in the accessibility of credits due to the regulatory factor. Banks will strive to cover in the shortest possible term the implementation costs and capital costs for operational risk.

In the long term both the change of principles for the determination of specific provisions (including the introduction of IAS and ISFA), and the introduction of the New Capital Accord can have a positive effect on the accessibility of credits for SMEs in the period of economic prosperity, mainly through the price mechanism due to a more credible risk assessment.