The institutional landscape of the financial safety net in Poland after implementation of the EU financial law regulatory reforms. What are the local differences between Poland and the European Banking Union?

This paper analyses the current set-up of the institutions of the financial safety net in Poland in the context of the European Banking Union. Polish institutional model of the safety net mirrors solutions known in the other EU countries, however, some of its features may be seen as atypical. One of them is entrusting the resolution authority to the deposit insurer, a solution modelled on the American experience. Relatively weak impact of the Global Financial Crisis on the Polish financial institutions, growing dependence of the financial safety net institutions on the government that can be currently observed, locally induced and driven regulatory reforms that aim at addressing national problems, as well as the specific local approach to applying the European law create a unique policy mix. Scepticism towards Poland joining the European Banking Union persists.