The purpose of the present article is to describe the origins of the Polish banking sector and its condition in the years 1989-1990 on the basis of accessible analyses and documents. The article discusses the objectives of reforms, their contemporary legal environment, macroeconomic conditions for the functioning of the banking sector, its overall shape, policies implemented with regard to it,, including the licensing policy, and, last but not least, the results of the undertaken measures. An attempt at specifying the stages of reforms has also been made: the period of reforms within the planned economy with some market components and the period of fully market oriented reforms. The difficulties that emerged in the reform process are discussed such as insufficient personnel competencies, inappropriate organizational structures, inadequate accounting standards. The methods of solving those difficulties have been described, including the creation of the banking supervision, drafting of prudential regulation and the evolution of the role of the central bank within the banking system.

Keywords: banks, reforms, economic transformation, banking act.

  Paweł Wyczański, The Banking System in Poland in 1989-1990 - plik pdf; (226 KB)