In early August 2026, the Government Legislation Centre published, on its website, a letter of Urząd Komisji Nadzoru Finansowego (UKNF) to the Ministry of Finance, in which the UKNF calls for considering the elimination of regulations on the establishment and activity of small payment institutions (MIPs) as part of the current work on the draft Act amending certain acts to develop the financial market and increase financial stability (UC132).

Lending is one of the core purposes of banks’ business and sources of income. No bank has an interest in introducing restrictions on that source of income without a good business reason. However, since a bank, while granting a loan, places the risk of default on the funds that have been entrusted to it (including clients’ savings) and that it must return, the bank needs to make sure that the risk is minimised. 

In a public debate, financial supervision is occasionally presented as a ‘brake’ or a barrier to the development of the financial market. Such a statement is based on a somehow intuitively justified view that regulations often increase the cost of functioning of supervised entities, while its implementation requires time and limits willingness to take risk. However, the experience of the last two decades shows that the key question should not be ‘Should we regulate/supervise?’ but ‘How to do that?’.