July 16, 2014 / 8:07 AM / 4 years ago

Poland's financial system remains stable - central bank

WARSAW, July 16 (Reuters) - The Polish banking system is stable and able to withstand a tough economic downturn and market turbulence, the central bank said on Wednesday, citing the findings of its own stress tests.

“The high level of resilience of Polish banks is confirmed by the regular stress tests carried out by the National Bank of Poland. Even in a very pessimistic scenario the capital needs of the entire sector would be insignificant,” the bank said.

In a statement accompanying its twice-yearly report on the stability of the financial system, the central bank said the banks’ ability to function improved over the past six months.

It said though that financial stability would be even greater if Poland had a system for the orderly liquidation of banks. (Reporting by Marcin Goclowski; Writing by Christian Lowe; Editing by Marcin Goettig)

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