Financial Sector Assessment Program - Poland : Housing Finance Technical Note

This note primarily addresses the mortgage market development objectives, although the regulator is encouraged to consider the use of the macro prudential tools at its disposal for institutional and systemic stability of the mortgage sector as the current portfolio outstanding is large and risky and thus presents a negative performance outlook. The rest of the material is structured as follows. Firstly, brief background information on recent Polish mortgage sector evolution provides context. Secondly, details of certain regulatory initiatives are discussed with the view on potential strengthening. Thirdly, suggestions for modernization of certain features of the current capital market funding framework are provided; specifically on expanding the issuance of Mortgage Covered Bond (MCBs) to the universal banks as well as bringing the framework in line with the latest global best practices.

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Bibliographic Details
Main Author: World Bank
Language:English
en_US
Published: Washington, DC 2014-01
Subjects:ALLOCATION OF CAPITAL, AMORTIZATION, ARBITRAGE, ASSET BACKED SECURITIES, ASSET CLASS, ASSET LIABILITY MANAGEMENT, ASSET POOL, ASSET POOLS, ASSET PRICE, ASSET PRICES, ASSET QUALITY, AVAILABILITY OF CREDIT, BAILOUT, BALANCE SHEET, BALANCE SHEETS, BANK INVESTORS, BANK LIQUIDITY, BANK SUPERVISION, BANKING REGULATION, BANKING SECTOR, BANKING SYSTEM, BANKRUPTCY, BOND, BOND ISSUANCE, BOND ISSUER, BOND ISSUERS, BONDHOLDERS, BONDS, BORROWER, BROKERS, BULLET REPAYMENTS, CAPACITY CONSTRAINTS, CAPITAL ADEQUACY, CAPITAL ALLOCATION, CAPITAL MARKET, CAPITAL MARKET DEVELOPMENT, CAPITAL MARKET TRANSACTIONS, CAPITAL MARKETS, CAPITAL REQUIREMENTS, CASH FLOWS, CENTRAL BANK, CENTRAL BANKS, CHECKS, COLLATERAL POOLS, COLLATERALIZATION, COLLECTIVE INVESTMENT, COMMERCIAL MORTGAGE, COMMERCIAL MORTGAGES, CONFLICTS OF INTEREST, CONSUMER CREDIT, CONSUMER PROTECTION, CREDIT AGENCY, CREDIT INSTITUTION, CREDIT INSTITUTIONS, CREDIT MARKETS, CREDIT QUALITY, CREDIT RATING, CREDIT RATINGS, CREDIT RISK, CREDIT RISKS, CREDITORS, CURRENCY, CURRENCY RISK, DEBT, DEBT INSTRUMENTS, DEBT SECURITIES, DEFAULTS, DEPOSIT, DEPOSIT INSURANCE, DEPOSIT TAKING INSTITUTIONS, DEPOSITORS, DEPOSITS, DERIVATIVES, DISCLOSURE REQUIREMENTS, DUE DILIGENCE, ECONOMIC DEVELOPMENT, EMERGING ECONOMIES, EMERGING MARKETS, ENABLING ENVIRONMENT, EXTERNAL CREDIT ENHANCEMENT, EXTERNAL CREDIT RATINGS, FEDERAL DEPOSIT INSURANCE, FINANCIAL CRISIS, FINANCIAL INSTITUTION, FINANCIAL MARKETS, FINANCIAL STABILITY, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FIXED INCOME, FORECLOSURE, FORECLOSURE PROCEDURES, FOREIGN BANKS, FOREIGN EXCHANGE, FOREIGN INVESTORS, GLOBAL MARKET, GROSS DOMESTIC PRODUCT, HEDGE FUNDS, HOLDING, HOME MORTGAGE, HOUSING FINANCE, INCOME INSTRUMENTS, INDIVIDUAL LOAN, INFLATION, INFORMATION ASYMMETRY, INFORMATION TECHNOLOGY, INSTITUTIONAL CAPACITY, INSTITUTIONAL DEVELOPMENT, INSTITUTIONAL INVESTORS, INSTRUMENT, INSURANCE, INSURANCE CORPORATION, INSURANCE PRODUCT, INSURANCE PRODUCTS, INTEREST RATE, INTEREST RATE CALCULATION, INTEREST RATE SWAPS, INTEREST RATE VOLATILITY, INTEREST RATES, INTERNATIONAL BANK, INTERNATIONAL INVESTORS, INVESTMENT REGIME, INVESTOR CONFIDENCE, INVESTOR INTEREST, IRREGULAR INCOMES, ISSUANCE, LEGAL AGREEMENTS, LEGAL FRAMEWORK, LEGAL PROVISIONS, LEGISLATIVE FRAMEWORK, LENDER, LENDERS, LEVEL OF RISKS, LIABILITY, LIABILITY COMPOSITION, LIQUID ASSETS, LIQUIDITY, LIQUIDITY RATIOS, LIQUIDITY RISK, LOAN, LOAN AMOUNT, LOAN PORTFOLIOS, LOAN QUALITY, LOAN STOCK, LOAN TERM, LOAN TERMS, LOCAL CURRENCY, LONG-TERM CAPITAL, LONG-TERM INVESTORS, MARKET ACCESS, MARKET DEVELOPMENT, MARKET DISTORTIONS, MARKET INFRASTRUCTURE, MARKET INTERMEDIARY, MARKET MAKING, MARKET PARTICIPANTS, MARKET PRACTICES, MARKET RISK, MARKET SHARE, MARKET SIZE, MARKET STABILITY, MARKET STRUCTURE, MARKET VALUE, MARKETABLE SECURITIES, MATURITIES, MATURITY, MORAL HAZARD, MORTGAGE, MORTGAGE FINANCE, MORTGAGE LOAN, MORTGAGE LOANS, MORTGAGE MARKET, MORTGAGE MARKETS, MORTGAGES, NON-PERFORMING LOAN, NON-PERFORMING LOANS, NPL, PENSION, PENSION FUNDS, PORTFOLIO, PORTFOLIO ALLOCATIONS, PORTFOLIO DIVERSIFICATION, PORTFOLIO MANAGEMENT, PORTFOLIO PERFORMANCE, PORTFOLIO RISK, PORTFOLIO RISK MANAGEMENT, PORTFOLIO RISKS, PORTFOLIOS, PREPAYMENT, PRICE FORMATION, PROVISIONING RULES, PRUDENTIAL REGULATIONS, REAL ESTATE COLLATERAL, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REGULATORY OVERSIGHT, REGULATORY PRACTICES, REPAYMENT, REPAYMENT CAPACITY, REPO, RESERVES, RESIDENTIAL MORTGAGE, RESIDENTIAL MORTGAGES, RETURNS, RISK FACTORS, RISK MANAGEMENT, RISK PROFILE, RISKY ASSETS, SECONDARY TRADING, SHORT-TERM DEPOSIT, SOLVENCY, SOVEREIGN DEBT, SOVEREIGN RATING, SOVEREIGN RISK, STOCK EXCHANGE, SWAP, TAX, TIMELY PAYMENT, TRANCHES, TRANSACTION, TRANSPARENCY, TRUSTEE, UNDERLYING ASSETS, UNDERLYING MORTGAGES, UNIVERSAL BANKS, VALUATION,
Online Access:http://documents.worldbank.org/curated/en/2014/01/19062508/poland-financial-sector-assessment-program-housing-finance-technical-note
https://hdl.handle.net/10986/17359
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