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Tougher approach

Category: ABS NPLs Regulation

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KNF stance puts Polish securitisation on hold

The future of securitisation and closed-end securitisation funds in Poland remains uncertain, following the Polish financial supervisory authority’s (KNF) approximately PLN6.4m (€1.49m) fine against Raiffeisen Polska in September. KNF fined the Austrian bank over its alleged failure in safeguarding securitisation fund assets as a depository bank in securitisation transactions, citing an incomplete register and lack of awareness over the status of fund assets.

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