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  2. 1 2010

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Bankowe papiery wartościowe dopuszczenie do obrotu na Giełdzie Papierów Wartościowych

100%
Zapadka P.
Forum Prawnicze
|
2010
|
issue 2 (2)
50-55
EN
One of forms of increasing the bank’s capital base is issuing the bank securities. In Polish law bank securities are regulated in the Banking Law Act as a separate type of securities. Transactions involving this type of securities are made every day, mostly between the banks (interbank market). The purpose of this publication is to present the less known possibility of public offering of bank securities - via their introduction and admission to the Warsaw Stock Exchange (WSE). Business value of this possibility is avoiding the time for lengthy legal requirements on drawing up the prospectus, its approval by the Commission (Polish Financial Supervision Authority) and making it available to the public. Moreover, public offering of the bank securities via WSE can also be made by the banks whose shares are not listed on the WSE. The above shows that bank securities can importantly influence the process of bank’s capital base increase being the alternative to the interbank market trading.
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Bankowość inwestycyjna państwa

100%
Zapadka P.
Forum Prawnicze
|
2012
|
issue 2 (10)
53-63
EN
The business activity called “investment banking” is in communis opinio classified as private law area, owing to the fact that this scope of activity is mainly conducted by private entities. However, current anti-crisis efforts taken by the States and various public financial institutions, allows us to ask the fundamental question related to existence or not existence of business activity called “State (public) investment banking”, which is based on public law rules. Unlike the widespread private investment banking business area, the main activity which could be taken by state (public) investment banking entities is the organization of the process of financing the public expenses by using the capital market instruments. In addition, the State is also obliged to regulate the financial liquidity mechanism, especially in the banking sector, on the basis of credit instruments and capital market instruments. In both cases, the final effect of such activities is not strictly connected with obtaining the profits (gains), but is rather connected with improving the mechanism of public finance area, public budget and financial system stability. Under the Polish law, mentioned public functions and duties are executed by the National Bank of Poland, the Ministry of Finance and state-owned banks. The idea of “State (public) investment banking” can be also treated as an example of using the private law mechanism and institution in the public law area, what is typical for present financial markets.
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