§ 1.

Information policy

  1. The information policy of PKO Bank Hipoteczny S.A. regarding capital adequacy and other information subject to disclosure, hereinafter the “Policy”, determines the scope, frequency, place and form of disclosures, as well as the means of approval and verification of the disclosures and the method of approving and verifying information concerning capital adequacy and information subject to disclosure as determined in the CRR, the Banking Act and Recommendations H, M and P of Polish Financial Supervision Authority.
  2. The terms used herein shall mean:
    1. Bank – PKO Bank Hipoteczny Spółka Akcyjna,
    2. CRR – Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,
    3. Banking Act – Banking Act of 29 August 1997 (Journal of Laws of 2017, item 1876, consolidated version),
    4. Parent undertaking – Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna,
    5. Recommendation H – Recommendation H of the Polish Financial Supervision Authority on internal control system in banks,
    6. Recommendation M – Recommendation M of the Polish Financial Supervision Authority on operational risk management in banks,
    7. Recommendation P – Recommendation P of the Polish Financial Supervision Authority on liquidity risk management in banks. 
  3. The policy shall be published on the Bank’s website (www.pkobh.pl/en).

      § 2.

Disclosures at consolidated level

  1. Bank, as an entity operating within the group of Powszechna Kasa Oszczędności Bank Polski, provides the information to the Parent undertaking for the purpose of disclosure on consolidated basis.
  2. The detailed scope of the information provided is specified in “The principles of information policy of PKO Bank Polski SA regarding capital adequacy and other information subject to disclosure”, hereinafter the “Principles” and is published on the website of the Parent undertaking (www.pkobp.pl/en).
  3. Disclosures at consolidated level are published on the website of the Parent undertaking in the report titled “Capital adequacy and other information subject to disclosure of the group of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna”, hereinafter the “Report”.
  4. The Report referred to in item 3 is published with frequency specified in Principles, in Polish and in English.

 § 3.

Disclosures at individual level

  1. Taking into account scale and nature of operations, Bank discloses in financial statement and in the Directors’ report information regarding in particular:
    1. the objectives and strategies to manage risk, 
    2. own funds for the purpose of capital adequacy, 
    3. capital buffers,
    4. leverage ratio,
    5. capital requirements,
    6. credit risk adjustments,
    7. use of credit risk mitigation techniques,
    8. remuneration policy for those categories of staff whose professional activities have a material impact on Bank’s risk profile,
    9. requirements referred to in art. 111a of the Banking Act and Recommendation H,
    10. operational risk in accordance with Recommendation M,
    11. liquidity risk management system and liquidity position in accordance with Recommendation P.

  2. Information mentioned in item 1 is published on the Bank’s website (www.pkobh.pl/en) in section Reports (Financial reports) as of 30 June and as of 31 December of each year, in Polish and in English. 

§ 4.

Scope of information disclosed

  1. The Bank shall disclose the information as specified in this Policy with the exception of:
    1. information regarded as immaterial, proprietary or confidential in accordance with art. 432 paragraph 1 and 2 of the CRR,
    2. information about operational events that could threaten the security of the Bank’s operational processes or which could have a negative effect on the Bank’s market position, which as a result may have consequences including an increase in reputational risk.
  2. In the cases described in item 1 point 2, Bank shall disclose information about these events after the circumstances rendering their disclosure impossible have ceased.

§ 5.

Rules for the approval and review of information disclosed

  1. The information disclosed is subject to verification within the internal control mechanisms established in the Bank.
  2. Financial statement for the six-month period and Directors’ report are approved by the Management Board.
  3. The annual financial statement and Directors’ report are approved by the Management Board, Supervisory Board and General Meeting.
  4. The information subject to review/audit as a part of the financial statement is verified by the certified external auditor.

§ 6.

Rules for the approval and review of the Policy

  1. The Policy and it’s amendments are adopted by the Management Board and approved by the Supervisory Board.
  2. The Policy is to be reviewed at least once a year.
  3. Review of the Policy is conducted in particular in light of market practices concerning disclosures in the area of capital adequacy, compliance with the generally applicable laws, the development of risk management methods, the variable components of compensation and the evaluation of whether the information published by the Bank is sufficient in terms of its risk profile.

 

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