Transformacja systemu bankowego PRL

Abstract

The banking system in the Polish communist period was closely associated with programme assumptions of the centrally planned economy. Banks did not serve their normal role. Their functioning was not for profit, which is the basis of commercial banking activities. There were also not an independent agent managing a surplus of capital between financial market participants. Such a market did not exist, and its function was assumed by the socialist state. The state subordinated banks to its goals, making them dependent on strong institutional supervision. In the years 1945-1989, the banking sector was subjected to many reforms, and the legislation often changed. However, the assumptions of the political system remained the same, which caused difficulties in the banks after the turn of 1989 and underdevelopment that today still characterize Polish banks and financial institutions.