Agnieszka Beata Kowalska, Director of the Non-Bank Lending Institutions Department at the Polish Financial Supervision Authority (UKNF), spoke during the Consumer Finance Congress, organised by the European Financial Congress (EFC). The title of her speech was ‘Non-bank lending market ahead of CCD2’. 

In her speech, she has indicated that after two years of KNF’s supervision the non-bank lending market in Poland is growing steadily, undergoing professionalisation and gaining consumers’ confidence. The upcoming implementation of the CCD2 brings new tasks to the market and the supervision authority. It is of key importance to implement the regulations in a manner that will retain existing standards and strike a balance between consumer protection and business development. 

The UKNF emphasises the need to further organise the market, among others through introducing the system of licences for non-bank lending institutions and clarifying the rules of their operation in order to enhance transparency and security of the functioning of those entities. At the same time, in many aspects, Poland has already exceeded the requirements of the CCD2, which is why the supervision authority emphasises that it is necessary to implement it in a prudent and pragmatic manner, which will support well-functioning mechanisms, without distorting them. 

The full text of the speech by Agnieszka Beata Kowalska, entitled ‘Non-bank lending market ahead of CCD2’ is available here.