Warsaw, 2013
Nat iona l Bank of Po landPlan of act iv i tyfor 2013–2015
Prepared in the Office of the President
Design:
Oliw ka s.c.
Print and prepress:
NBP print office
Published by:
National Bank of Poland
Education and Publishing Department
00-919 Warszawa, Świętokrzyska 11/21, Poland
phone 0 48 22 653 23 35, fax 0 48 22 653 13 21
www.nbp.pl
© Copyright Naro dowy Bank Polski, 2013
Wprowadzenie
NATIONAL BANK OF POLAND ACTIVITY PLAN FOR 2010-2012 33
Contents
Abbreviations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
1 . Mission of the National Bank of Poland . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
2 . Objectives of the National Bank of Poland . . . . . . . . . . . . . . . . . . . . . . . . . .6
Objective A: Carrying out research and analyses of monetary policy and applied tools, in particular
in the context of developments on global financial markets in recent years and threats
to macroeconomic stability. Proposing possible solutions for monetary policy and its
implementing tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Objective B: Introduction of macro-prudential oversight and its operationalisation. Improvement
of the mechanisms for adequate response to the threats to the financial system
stability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Objective C: Optimisation of the notes and coins management process at the NBP . . . . . . . . . . . . . 7
Objective D: Optimisation of the level, composition and management of foreign exchange
reserves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Objective E: Increasing the regulatory influence of the NBP on the payment system and
the oversight of financial market infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Objective F: Development of the model of public sector servicing by the NBP. . . . . . . . . . . . . . . . . . 7
Objective G. Improvement and extension of statistical research supporting decision-making
processes with regard to monetary policy and financial system stability . . . . . . . . . . . . 8
Objective H. Rationalisation of the NBP organisational structure and improvement
of the efficiency of its activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
3 . Tasks in the Plan of Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Tasks for 2013-2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
4
Abbreviations
N a t i o n a l B a n k o f P o l a n d
Abbreviations
BFG Bank Guarantee Fund
DA Administration Department
DAW Internal Audit Department
DES Cash and Issue Department
DEW Education and Publishing Department
DIT Information Technology and Telecommunications Department
DK Personnel Department
DKP Public Relations and Marketing Department
DO Security Department
DOK Domestic Operations Department
DOR Accounting and Operations Department
DOZ Foreign Exchange Department
DP Legal Department
DROZ Operational Risk and Compliance Department
DS Department of Statistics
DSF Financial System Department
DSP Payment Systems Department
DZ International Department
DZP Public Procurement Department
DZRF Financial Risk Management Department
EC European Commission
ECB European Central Bank
EMU Economic and Monetary Union
ESCB European System of Central Banks
GP Office of the President
IE Economic Institute
IT Direct Inflation Targeting
KNF Polish Financial Supervision Authority
MF Ministry of Finance
NBP National Bank of Poland
SIS Reporting Information System
ZUG Support Services Office
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Mission of the National Bank of Poland
PLAN OF ACTIVITY FOR 2013-2015 5
1
Mission of the National Bank of Poland
As the central bank of the State, the National Bank of Poland has the exclusive right to issue currency and to set and implement monetary policy.
The basic objective of the National Bank of Poland is to maintain price stability, while supporting the economic policy of the Government, insofar as this does not constrain the pursuit of the basic objective of the NBP.
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2
Objectives of the National Bank of Poland
N a t i o n a l B a n k o f P o l a n d
2
Objectives of the National Bank of Poland
Pursuing its activity in the years 2013-2015, the National Bank of Poland will strive to accomplish the following objectives:
Objective A: Carrying out research and analyses of monetary policy and applied tools, in particular in the context of developments on global financial markets in recent years and threats to macroeconomic stability. Proposing possible solutions for monetary policy and its implementing tools
As the central bank of the Republic of Poland, the National Bank of Poland is responsible for the value of Polish currency. In order to accomplish its basic objective of maintaining stable price levels, the NBP analyses and carries out research in support of monetary policy which cover micro and macroeconomic issues.
Due to dynamic changes in the external environment, the NBP will extend the scope of research and analyses to include areas requiring constant monitoring and supervision.
In order to ensure high quality of research and analyses, the central bank will use modern tools and models, adjusting available instruments to the changes on financial markets. This will allow to effectively conduct monetary policy.
Objective B: Introduction of macro-prudential oversight and its operationalisation. Improvement of the mechanisms for adequate response to the threats to the financial system stability
As one of the institutions acting for maintaining the stability of the national financial system, the National Bank of Poland will strive to develop solutions enabling more efficient identification and monitoring of potential threats to the financial system stability and counteracting those threats.
By strengthening the cohesion and effectiveness of the safety net, the NBP will aim at ensuring the financial system stability, including the strengthening of the financial supervision structure in Poland and the place and role of the central bank within that structure. Pursuing its objective, the NBP will act for establishing a body performing macro-prudential oversight in which the NBP wants to play a significant role. This will allow the central bank, in close cooperation with other institutions responsible for financial stability, to more efficiently mitigate systemic risk and ensure the security of the national financial system.
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Uwarunkowania
NATIONAL BANK OF POLAND ACTIVITY PLAN FOR 2010-2012 7
Objectives of the National Bank of Poland
PLAN OF ACTIVITY FOR 2013-2015 7
Objective C: Optimisation of the notes and coins management process at the NBP
The NBP is the only institution in Poland which is authorised to put into circulation notes and coins that are legal tender in Poland. The objective of the central bank is to ensure uninterrupted cash settlements and appropriate quality of notes and coins put into circulation.
Pursuing this objective, the NBP will aim at improving the effectiveness of banknote sorting and distribution of cash at the NBP, at the same time maintaining high quality of notes and coins in circulation.
Objective D: Optimisation of the level, composition and management of foreign exchange reserves
Foreign exchange reserves held with the NBP are to enhance financial credibility of the country, mitigating the risk of a sudden outflow of capital or suspension of access to financing on global markets. They can also be used to support the stability of the financial market or the domestic banking sector.
In the process of managing the foreign exchange reserves, the NBP aims at achieving high performance of investment portfolios, while ensuring high level of safety of investments and adequate liquidity of funds. To this end the NBP will continue to expand its investment instruments, taking into account the current situation on the market, and will develop the methods of assets allocation and financial risk management.
Objective E: Increasing the regulatory influence of the NBP on the payment system and the oversight of financial market infrastructure
The activities of the National Bank of Poland for the development of the payment system include organising cash settlements, regulatory activities and oversight of payment and securities settlement systems. The NBP ensures efficient and safe functioning of the settlement systems.
Under this objective, the NBP will focus on extending its decision-making and oversight competences with respect to the payment system functioning, improving oversight instruments and preparing appropriate statutory changes which would allow the central bank to introduce new oversight framework.
Objective F: Development of the model of public sector servicing by the NBP
The National Bank of Poland provides banking services to the state budget in the scope laid down in the Act on Public Finance.
The NBP will introduce solutions allowing to further improve the services for the public finance sector units in order to maintain safety and liquidity of public fund settlements. Such activities will include the further development of the provided banking services and offering new tools, under banking services for the budget, to account holders by the NBP.
The NBP will simultaneously conduct activities aimed at streamlining, in cooperation with MF, the model of the banking services provided for the state budget in Poland.
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Uwarunkowania
N a t i o n a l B a n k o f P o l a n d8
Objectives of the National Bank of Poland
N a t i o n a l B a n k o f P o l a n d
Objective G. Improvement and extension of statistical research supporting decision-making processes with regard to monetary policy and financial system stability
As one of the main centres for statistical research in Poland, the NBP compiles statistical data which constitute the main source of information about the financial sector and the balance of payments. The data are used in evaluating macroeconomic situation of the country and making decisions on monetary policy and analysing the threats to the financial system stability.
The scope of statistical research of the NBP will gradually expand along with the development of institutions and financial instruments and the increase in demand for more detailed information allowing to monitor risk factors in and threats to the financial system.
An important aspect of the development of statistical research at the NBP will be the adjustment of the research to new standards set by such international institutions as the ECB, Eurostat and the IMF.
Objective H. Rationalisation of the NBP organisational structure and improvement of the efficiency of its activities
The NBP continues work on verification and preparation of optimal organisational solutions in order to improve safety and effectiveness of selected operational processes, in particular to ensure an effective settlement of operations in foreign currencies and zloty in line with the market standards.
Following the good practices in operational risk management applied i.a. in other central banks, the NBP will improve the currently functioning model of risk management, taking into account specific tasks of the central bank.
Furthermore, the plans include the optimisation of the NBP activities in the area of financial planning, public procurement, IT, transport and printing, as well as the improvement of the effectiveness of the management of holiday centres.
The implementation of individual solutions will contribute to optimisation of the bank’s organisational structure and the reduction of the costs of its functioning.
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Tasks in the Plan of Activity
PLAN OF ACTIVITY FOR 2013-2015 9
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Tasks in the Plan of Activity
The Plan of Activity of the NBP for 2013-2015 comprises priority tasks designed to achieve the objectives of the NBP. The Plan does not include regular tasks which are presented, inter alia, on the Bank website. The tasks were grouped under individual objectives of the NBP.
Tasks for 2013-2015
Objective A: Carrying out research and analyses of monetary policy and applied tools, in particular in the context of developments on global financial markets in recent years and threats to macroeconomic stability. Proposing possible solutions for monetary policy and its implementing tools
1. Analysis of modifications of inflation targeting strategy in other central banks
Final result: Broadening the knowledge of modifications of the IT strategy in other central banks
Time frame: 2013Responsible unit: IE
H1 2013
l Collecting information on modifications of the IT strategy introduced by the central banks pursing this strategy
H2 2013
l Preparing a study on IT strategy pursued by selected central banks and its modifications
2. Analysis of the sources of varied economic situation in the euro area countries
Final result: Identification of the characteristics of the Polish economy which give our country an advantage and those which may be a potential source of threats after the Poland’s accession to the euro area
Time frame: 2013-2015 Responsible unit: IE
H1 2013
l Analysis of external publications
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Tasks in the Plan of Activity
N a t i o n a l B a n k o f P o l a n d
H2 2013
l Creation of the statistical database
H1 2014
l Internal analyses
H2 2014
l Formulation of results and their presentation to the NBP Management Board
H1 2015
l Description of the obtained results in the form of a report
3. Analysis of alternative monetary policy strategies
Final result: Acquiring knowledge of possible changes of the monetary policy strategy in Poland
Time frame: 2013-2014 Responsible unit: IE
H1 2013
l Collecting information and literature review on alternative monetary policy strategies
H2 2013
l Analysing the possibility of applying alternative monetary policy strategies in Poland
H1 2014
l Preparing publication on alternative monetary policy strategies
4. Research on the possibility to use the tools of macro-prudential policy in the monetary union
Final result: Acquiring knowledge of the possibility to use the macro-prudential policy instruments for improving the stabilisation of the euro area economies. The research findings may be used after the accession of Poland to the euro area.
Time frame: 2013-2014Responsible unit: IE
H1 2013
l Development of the research model
l Use of the research results in internal materials and presentations
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H2 2013
l Publication of the research results, their presentation at scientific conferences
H1 2014
l Further dissemination of the research results (scientific conferences, publications)
5. Research on the effects of pursuing macro-prudential policy in the economy with foreign currency loans
Final result: Verification of the usefulness of using macro-prudential policy tools as a new monetary policy instrument in Poland in the context of a large number of foreign currency loans in Poland
Time frame: 2013-2014Responsible unit: IE
H2 2013
l Development of the research model
l Drawing up a publication on the research
H1 2014
l Use of the research results in internal materials
l Internal publication
l Presentation at scientific conferences
H2 2014
l Further dissemination of the research results (scientific conferences, publications)
6. Streamlining the system of communication with financial markets
Final result: Better coordination of statements and media releases of the NBP. Activities aimed at further unification of the message and ensuring that the content of key importance for the NBP will reach individual groups of recipients
Time frame: 2013Responsible unit: DKPIn cooperation with: IE
H1 2013
l Intensification of activities related to promotion of research and reports of the NBP
l Development and introduction of rules governing the organisation of cyclical meetings of the NBP employees with external economists and analysts
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l Streaming of key events at the NBP related to financial markets via the website www.nbp.pl
7. Measurement and analysis of inflation expectations in Poland
Final result: Improvement of the system of measuring inflation expectations and broadening the knowledge about the features of the expectations, in particular for the needs of the analysis of monetary policy credibility and the assessment of the efficiency of the NBP communication with the external environment
Time frame: 2013-2014Responsible unit: IE
H1 2013
l Work on inflation index determining the consumers’ perception of price changes and the resulting modifications of the system for measuring inflation expectations of the consumers
H2 2013
l Development of a new formula for describing inflation expectations of various groups of entities
l Evaluation of the monetary policy credibility in various groups of entities
l Analysis of the process of inflation expectations formulation with the assumption that the adaptation mechanism of learning takes place
H1 2014
l Evaluation of the impact of inflation projections prepared at the NBP on expectations of professional forecasters
8. Research on the monetary policy transmission mechanism
Final result: Better knowledge about the impact of monetary policy on the economy
Time frame: 2013-2015 Responsible unit: IE
H1 2013
l Research on the monetary policy transmission mechanism in Poland, in particular on the functioning of the interest rate and exchange rate channel and non-linearity in transmission
l Draft report on the monetary policy transmission mechanism in Poland
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PLAN OF ACTIVITY FOR 2013-2015 13
H2 2013
l Periodical comprehensive analysis of the monetary policy transmission mechanism (MTM) in Poland
H1 2014
l Draft of a new model of the monetary policy transmission mechanism, including the issues of non-linear transmission
H2 2014
l Estimation of the MTM model and description of results
H1 2015
l Draft report on MTM in Poland, including the results obtained from the model
H2 2015
l Periodical comprehensive analysis of the monetary policy transmission mechanism (MTM) in Poland, including the issues of non-linear transmission
9. Project of the interbank market reconstruction in a new formula
Final result: Recommendations for activities that the NBP and other public institutions should undertake to create a liquid market of secured interbank lending in Poland
Time frame: 2013Responsible unit: DSFIn cooperation with: DOK, DSP, DP
H1 2013
l Analysis of potential opportunities and threats related to the functioning of a liquid market of interbank repo transactions
l Identification, in cooperation with domestic banks, of (legal, tax, infrastructural) barriers to the development of this segment of the monetary market in Poland
l Formulation of conclusions
10. Analysis of threats to macroeconomic balance
Final result: Presentation of a report on macroeconomic imbalances, development of analytic instruments for macro-prudential oversight
Time frame: 2013-2015 Responsible unit: IEIn cooperation with: DSF, DS, DZ
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H1 2013
l Development and presentation of a set of potential macro-prudential policy instruments to the Systemic Risk Board
H2 2013
l Model work in order to identify the strength of the transmission mechanisms of changes in selected macro-prudential policy instruments
H1 2014
l Model work on identification of potential leading economic indices for a final set of indicators used in the reports on macroeconomic imbalances by the European Commission (Alert Mechanism Report)
H2 2014
l Assessment of the scale of interaction and interlinks between macro-prudential policy instruments and monetary policy instruments with regard to their impact on the economy
H1 2015
l Verification of the most important risks for macroeconomic stability of the economy
l Verification of the structure and contents of the published reports on macroeconomic imbalances
H2 2015
l Verification of the applied and the proposal of potential new tools of macro-prudential policy
11. Analysis of households’ assets and debt in Poland
Final result: Creation of a database on assets and debt of individual households. Analytic publications on the subject
Time frame: 2013-2015Responsible unit: IE
H1 2013
l Preparation of a survey
H2 2013
l Pilot research
H1 2014
l Building a database using the results of the survey
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PLAN OF ACTIVITY FOR 2013-2015 15
H2 2014
l Analysis of the results of the pilot survey
l Possible introduction of changes to the survey
H1 2015
l Carrying out the complete survey
H2 2015
l Creation of a database and analysis of the results
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N a t i o n a l B a n k o f P o l a n d
Objective B: Introduction of macro-prudential oversight and its operationalisation. Streamlining the mechanisms for adequate response to the threats to the financial system stability
12. Establishment of the Systemic Risk Board, including the development of new analyses and instruments for macro-prudential policy
Final result: Establishment of the macro-prudential oversight authority in Poland, ensuring analytical materials and instruments necessary for its efficient functioning
Time frame: 2013Responsible unit: DSFIn cooperation with: DP, IE, GP
H1 2013
l Issuing opinions on the draft act during parliamentary work
H2 2013
l Participation in further parliamentary work on the draft act
l Activities aimed at enforcing the Act establishing the Systemic Risk Board, including the creation of an organisational unit at the NBP to provide services to the Board (the date depends on the day of entry into force of the Act)
13. Establishing new principles of cooperation with the financial safety net institutions
Final result: More effective cooperation within the national financial safety net
Time frame: 2013Responsible unit: DSF
H1 2013
l Participation in the work on supplementing the crisis management procedures at the national level with the procedures of cooperation with BFG
l Participation in work on statutory regulations on introducing the bank restructuring principles and bank resolution framework
H2 2013
l Activities of the NBP aimed at enforcing the Act on bank resolution (the date depends on the day of entry into force of the Act)
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Tasks in the Plan of Activity
PLAN OF ACTIVITY FOR 2013-2015 17
14. Development of the system of activities stabilising the financial sector, in particular in the case of a deepening global financial crisis
Final result: Potential improvement of procedures and introduction of new instruments for stabilising the situation in the financial system in the event of market distortions
Time frame: 2013Responsible unit: DSFIn cooperation with: DOK
H1 2013
l Review and improvement of NBP procedures with regard to central bank instruments that may stabilise the situation in the financial system: liquidity-providing transactions, refinancing loans, FX swaps
H2 2013
l Review of the NBP instruments in terms of the role of the central bank in the resolution process
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N a t i o n a l B a n k o f P o l a n d
Objective C. Optimisation of the notes and coins management process at the NBP
15. Activities aimed at introducing a statutory obligation of rounding of payments
Final result: Significant reduction of coins with the lowest face value in circulation
Time frame: 2013Responsible unit: DESIn cooperation with: DP
H1 2013
l Work on the draft Act on rounding of payments
l Consultation and activities aimed at submitting the draft act to the Sejm1 by the entity with the right to legislative initiative
H2 2013
l Continuation of activities leading to cessation of issuing coins with the lowest face value
16. Increased share of banknotes shredded online
Final result: Reduction of labour input on banknote destruction by shredding the banknotes during one process of machine counting and sorting - without intervention of employees
Time frame: 2013Responsible unit: DESIn cooperation with: DP, DAW, DOR, GP
H1 2013
l Purchase and installation of new sorters in the NBP regional branches
l Purchase and installation of shredding modules for the existing sorters
l Introduction of organisational changes
l Drawing up a draft regulation of the President of the NBP laying down the modified rules governing banknote counting and sorting
17. Activities aimed at streamlining cash circulation
Final result: Increasing the recirculation of cash between commercial banks, without the participation of the central bank
1 The lower chamber of the Polish Parliament.
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PLAN OF ACTIVITY FOR 2013-2015 19
Time frame: 2013-2015Responsible unit: DESIn cooperation with: DP
H1 2013
l Drafting assumptions for systemic changes
l Analysis of experience of other countries
H2 2013
l Analysis of the legal situation
l Consultation with stakeholders
H1 2014
l Proposals for the final solutions
H2 2014
l Preparing draft amendments to legal regulations
H1 2015
l Implementation of the amendments
H2 2015
l Monitoring of the effects of the implemented amendments
18. Establishing the standards for the quality of banknotes in circulation
Final result: Standardisation of the quality of banknotes in circulation
Time frame: 2013Responsible unit: DES
H1 2013
l Specification of criteria for machine sorting of banknotes
H2 2013
l Drafting amendments to binding regulations
19. Introduction of standards, reorganisation of processes and centralisation of banknote sorting in the NBP largest regional branches
Final result: Increased resource efficiency
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Tasks in the Plan of Activity
N a t i o n a l B a n k o f P o l a n d
Time frame: 2014Responsible unit: DES
H1 2014
l Verification of the needs of the NBP regional branches in relation to machine counting and sorting of banknotes and introduction of relevant changes
20. Optimisation of the transport of cash in the NBP
Final result: Reduction of the costs of cash transport
Time frame: 2014-2015Responsible unit: DESIn cooperation with: DO, DIT
H2 2014
l Preparing the variants of changes to the organisation of the transport of cash
l Analysis of the costs of individual variants
H1 2015
l Development of an IT tool supporting the organisation of the transport of cash
H2 2015
l Drawing up draft amendments to legal regulations
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PLAN OF ACTIVITY FOR 2013-2015 21
Objective D: Optimisation of the level, composition and management of foreign reserves
21. Development of the methods of comprehensive analysis of the level of foreign reserves
Final result: Extension of the range of analyses of the NBP foreign reserves to support the determination of the reserve management strategy
Time frame: 2013-2014Responsible unit: DZRFIn cooperation with: IE, DS, DSF, DOK
H1 2013
l Identification of the balance of payments vulnerability factors
H2 2013
l Review of optimisation models used in the analysis of reserve assets adequacy
H1 2014
l Verification of the assumptions and data adopted in the optimisation model (including during stress tests)
H2 2014
l Drawing up assumptions for the scenario analysis of changes in the balance of payments
22. Increasing the spectrum of investment instruments for managing the part of reserves with a lower liquidity requirement2
Final result: Enhanced rate of return of the reserves in the long run
Time frame: 2013Responsible unit: DZRFIn cooperation with: DOZ, DOR
H1 2013
l Extension of the investment spectrum on emerging markets
H2 2013
l Analysis of potential methods of currency risk management
l Verification of the strategy for the management of corporate bonds portfolio
2 The task will be continued in 2014 and 2015 - the work depends on the market conditions.
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23. Optimisation of investment instruments in the process of foreign reserves management
Final result: Improving the efficiency of managing foreign reserves by introducing new instruments
Time frame: 2013-2015Responsible unit: DOZIn cooperation with: DZRF, DOR, DP
H1 2013
l Analysis of selected investment instruments in foreign currencies and gold (FRA, IRS, forward/forward)
l Starting the process of implementing FRA in gold asset management
H2 2013
l Completing the process of implementing FRA in gold asset management
l Starting the process of implementing IRS in gold asset management
H1 2014
l Completing the process of implementing IRS in gold asset management
l Starting the process of implementing forward/forward in gold asset management
H2 2014
l Completing the process of implementing forward/forward in gold reserves management
l Starting the process of implementing FRA, IRS, forward/forward in reserve currencies
H1 2015
l Completing the process of implementing FRA, IRS, forward/forward in reserve currencies
24. Development of expected rate of return simulations
Final result: Extending analyses supporting the determination of Strategic Asset Allocation
Time frame: 2013-2014Responsible unit: DZRFIn cooperation with: IE
H1 2013
l Development of models for estimating the expected rate of return on the basis of yield curve movements
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Tasks in the Plan of Activity
PLAN OF ACTIVITY FOR 2013-2015 23
H2 2013
l Implementation of new methods of estimating the expected rates of return in the framework of optimisation models
H1 2014
l Analyses of methods of modelling yield curves, also for non-government securities
H2 2014
l Development of methods of forecasting yield curve and exchange rate changes
25. Development of tools supporting credit risk management
Final result: Improving the efficiency of credit risk management in the investment process
Time frame: 2013-2014Responsible unit: DZRFIn cooperation with: DIT, DP
H1 2013
l Analysis of the impact of changes in financial system regulations on credit risk management
l Drafting specifications and selection of an IT system to support credit risk management
H2 2013
l Devising comprehensive solutions in the area of agreements with counterparties, adjusted to the currently introduced changes in financial system regulations
H1 2014
l Starting work on implementing the IT system to support credit risk management
H2 2014
l Implementing the IT system to support credit risk management
26. Development of methods to analyse the factors that influence the rate of return on foreign exchange reserves
Final result: Extending the scope of information supporting the investment process
Time frame: 2013-2014Responsible unit: DZRFIn cooperation with: DIT
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Tasks in the Plan of Activity
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H1 2013
l Devising assumptions for the performance attribution model, the decision on purchasing an IT system or devising own tools
H2 2013
l Starting work on implementing the tools to support the analysis of investment portfolio returns
H1 2014
l Implementing tools supporting the analysis of investment portfolio returns
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PLAN OF ACTIVITY FOR 2013-2015 25
Objective E: Increasing the influence of the NBP on the payment system and the oversight of the financial market infrastructure
27. Working out the concept of providing the NBP governing bodies with additional decision-making competence in the area of the payment system and financial market infrastructure, and establishing a new oversight framework
Final result: Acquiring new decision-making and oversight competence in the area of the payment system and financial market infrastructure by the NBP. Acquiring effective regulatory tools to exercise the supervision
Time frame: 2013-2015Responsible unit: DSPIn cooperation with: GP, DP, DSF
H1 2013
l Carrying out internal and external analyses necessary to prepare draft legal amendments extending NBP’s decision-making and oversight competence in the area of the payment system
H2 2013
l Drafting proposals of amendments to the relevant legal acts
H1 2014
l Drafting proposals of amendments to relevant legal acts and submitting them for external consultations
H2 2014
l Cooperation with the Ministry of Finance in the legislative process
H1 2015
l Continuing the cooperation with the Ministry of Finance in the legislative process
H2 2015
l Entry of the new regulations into force
28. Building a database to collect and process statistical information on the payment system
Final result: Automation of collecting and processing of statistical data used to perform analytical and supervisory activities. Extending the scope of data included in information and analytical materials of the NBP
Time frame: 2013-2014Responsible unit: DSPIn cooperation with: DIT
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H1 2013
l Devising the scope of data that comply with the requirements of the ECB and NBP
l Defining available functionalities
H2 2013
l Consultations on building databases
H1 2014
l Review of the assumptions defined
l Designing the database
H2 2014
l Testing the database
l Implementing the database
29. Accessible Finance Academy
Final result: Reducing financial exclusion in the Polish society
Time frame: 2013-2015Responsible unit: DSPIn cooperation with: DEW, DKP, NBP regional branches
H1 2013
l Inauguration of the Academy in Lubelskie and Podlaskie Voivodeships
H2 2013
l Inauguration of the Academy in Dolnośląskie and Świętokrzyskie Voivodeships
H1 2014
l Inauguration of the Academy in Małopolskie and Warmińsko-Mazurskie Voivodeships
H2 2014
l Inauguration of the Academy in Podkarpackie and Lubuskie Voivodeships
H1 2015
l Inauguration of the Academy in Śląskie and Pomorskie Voivodeships
H2 2015
l Inauguration of the Academy in Łódzkie, Kujawsko-Pomorskie and Mazowieckie Voivodeships
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PLAN OF ACTIVITY FOR 2013-2015 27
30. Implementation of EWIB 2.0 system
Final result: Providing extensive information on banks, bank establishments and other suppliers of payment services who maintain payment accounts. Unification of payment account numbers
Time frame: 2013-2014 Responsible unit: DSPIn cooperation with: DIT, DP, DS, DO, DKP
H1 2013
l Drafting functional specification of the system and legal regulations
H2 2013
l Selection of a supplier and IT tools
l Starting system building
H1 2014
l System building
H2 2014
l System testing and launch
31. Survey on payment instruments costs
Final result: Measurement of payment instruments costs (social and private)
Time frame: 2013-2015Responsible unit: DSPIn cooperation with: DES
H1 2013
l Analysis of the methodology and results of surveys of payment instruments costs performed by the ECB and EU countries
H2 2013
l Designing the survey on the basis of ECB methodology, including inter alia the selection of respondents, preparing questionnaires
H1 2014
l Possible tender for survey contractor or sending out questionnaires to respondents and collecting statistical data
H2 2014
l Analysis of and work on the data
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Tasks in the Plan of Activity
N a t i o n a l B a n k o f P o l a n d
H1 2015
l Drafting a survey report, report publication
Objective F: Development of the model of public sector servicing by the NBP
32. Development of the model of providing bank services to state budget by the NBP
Final result: Development of the model of providing bank services to state budget by the NBP
Time frame: 2013Responsible unit: DORIn cooperation with: DOZ, DP
H1 2013
l Legal analysis of bank services provided to state budget in the light of legal regulations and contracts in force
l Analysis of the NBP’s tasks in the area of providing bank services to state budget, divided into mandatory and optional tasks
H2 2013
l Proposal for the model of providing bank services to state budget by the NBP
l Taking further actions, depending on the decision of the Ministry of Finance and the NBP concerning bank services provided to state budget
3
Tasks in the Plan of Activity
PLAN OF ACTIVITY FOR 2013-2015 29
Objective G. Improvement and extension of statistical research supporting decision-making processes with regard to monetary policy and financial system stability
33. Extending the Reporting Information System (SIS) for the needs of the extended scope of prudential and supervisory reporting3
Final result: Preparing the NBP to implement the reporting requirements laid down in the European Commission Regulation on the banking sector
Time frame: 2013Responsible unit: DSIn cooperation with: DIT, DSF, KNF
H1 2013
l Launching the new SIS2 Portal
l Implementing the reporting on large exposures of banks in a new data format and scope
l Introducing reporting as defined in the EC Regulation
H2 2013
l Extending SIS2 Portal functionalities (information service, certification of external users, B2B)
l Introducing new reporting packages defined in the EC Regulation, which are scheduled for implementation in 2013
34. Development of a system for collecting and processing information on investments in securities4
Final result: Development of a system for collecting and processing data on securities holdings statistics that meets the ECB requirements as well as the NBP needs
Time frame: 2013-2015Responsible unit: DSIn cooperation with: DIT
H2 2013
l Defining the scope of information to be covered by the new system in the context of ECB requirements
H1 2014
l Defining specifications of requirements by the system operator
3 The implementation of the task will continue in subsequent years as new reporting obligations are introduced.4 The implementation of the task will continue in 2016.
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Tasks in the Plan of Activity
N a t i o n a l B a n k o f P o l a n d
H2 2014
l Analysis of the system operator’s specifications in terms of the IT system architecture and design
l Legislative work related to drafting regulations implementing new statistics
H1 2015
l Developing the IT system
H2 2015
l Further development of the system and performance of approval tests
35. Building a new monetary statistics system – technologically upgraded and adjusted to modified international standards
Final result: Modernisation of IT solutions, acquiring new statistical data
Time frame: 2013-2015Responsible unit: DSIn cooperation with: DIT, DOK
H2 2013
l Defining the data model and reporting scope
H1 2014
l Drafting specifications of the system owner’s requirements
H2 2014
l Building a module to feed the system with reporting data
H1 2015
l Building a module to process reporting data
H2 2015
l System testing and launch
3
Tasks in the Plan of Activity
PLAN OF ACTIVITY FOR 2013-2015 31
Objective H. Rationalisation of the NBP organisational structure and improvement of the efficiency of its activities
36. Optimisation of front, middle and back-office in the area of foreign exchange, risk management and internal operations
Final result: Rationalisation of the NBP organisational structure and improvement of the efficiency of its activities
Time frame: 2013Responsible unit: GPIn cooperation with: DOZ, DOK, DZRF, DSP, DROZ, DOR, DZ, DK
H1 2013
l Presenting the concept of operation of front, middle and back-office to the NBP Board
l Drafting a concept of changes to the organisational structure in the area of keeping the internal operations subsidiary ledger (SGW)
l Optimisation of risk management at the NBP
H2 2013
l Implementing solutions for the front, middle and back-office in the area of keeping the internal operations subsidiary ledger (SGW)
37. Creating a central tendering system at the NBP
Final result: Streamlining the tendering procedure of the NBP, spending rationalisation
Time frame: 2013Responsible unit: DZPIn cooperation with: GP, DA, DO, DIT, DZ, DK
H1 2013
l Drafting a tender management strategy for the NBP
H2 2013
l Drafting internal regulations to centralise the tendering procedure at the NBP
38. Rebuilding the IT needs planning system
Final result: Streamlining the IT needs planning process
Time frame: 2013-2014Responsible unit: DIT In cooperation with: DA, GP
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Tasks in the Plan of Activity
N a t i o n a l B a n k o f P o l a n d
H2 2013
l Drafting the planning procedures and mechanisms
H1 2014
l Entry of the new regulations into force
39. Rationalisation of costs related to the IT support function
Final result: Review of spending, renegotiating or terminating certain contracts
Time frame: 2013-2014Responsible unit: DITIn cooperation with: GP, DOR
H1 2013
l Review of spending
H2 2013
l Contract renegotiations
H1 2014
l Termination of certain contracts
H2 2014
l Process completion
40. Consolidation of IT functions performed by NBP departments and regional branches
Final result: Rationalisation of employment by eliminating dispersed support of IT functions
Time frame: 2013-2014Responsible unit: DITIn cooperation with: GP, DOR, DK
H1 2013
l Drafting functional assumptions for the Help Desk following the taking over of new functions
H2 2013
l Work on functional assumptions and preparing the Help Desk for the new role
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Tasks in the Plan of Activity
PLAN OF ACTIVITY FOR 2013-2015 33
H1 2014
l Drafting regulations related to rationalisation of employment due to eliminating dispersed support of IT functions
H2 2014
l Introducing organisational changes related to the rationalisation of employment
41. Introducing changes in the financial planning system of the NBP
Final result: Drafting a financial plan of the NBP whose scope and form would meet the requirements of particular recipients
Time frame: 2013Responsible unit: DORIn cooperation with: DK, DIT, DA, DO, DZ, DES, DKP, DEW, ZUG, GP, DAW, DP, DZP
H1 203
l Analysis of postulated directions of changes along with a legal analysis of their plausibility
H2 2013
l Drafting proposals of changes in the financial planning system of the NBP, including draft legislative amendments
42. Optimisation of the transport, printing and holiday centre management services at the NBP
Final result: Improving the standard of transport and printing services, while reducing their costs at the same time. Improving the efficiency of using training and holiday centres for the purpose of training and staff welfare activities of the NBP, while reducing the centres’ running costs
Time frame: 2013-2014Responsible unit: ZUG In cooperation with: DK, DO, DA, GP, DKP, DES, DEW
H1 2013
l Restructuring the staff of “Guzianka” holiday centre in Ruciane-Nida and preparing the centre for sale
l Preparing a cost analysis of maintaining NBP’s own transport fleet as compared to outsourcing
l Preparing a cost analysis of NBP in-house printing services as compared to outsourcing
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Tasks in the Plan of Activity
N a t i o n a l B a n k o f P o l a n d
H2 2013
l Restructuring of the Zalesie Górne-based training centre
l Preparing a concept for reducing transport costs, divided into transport of people and transport of cash
l Preparing a concept for reducing the costs of printing services
H1 2014
l Designing the restructuring of transport and printing services
l Restructuring of the training centre in Starawieś
H2 2014
l Restructuring of the “Bankowiec” training centre in Zakopane
43. Improving the efficiency of using NBP real property in Warsaw
Final result: Reducing the costs incurred by the NBP to maintain real property. Improving the work organisation and efficiency of managing NBP facilities
Time frame: 2013-2014 Responsible unit: DAIn cooperation with: DO, DIT
H1 2013
l Selling the building located at 23 Syreny street in Warsaw
l Preparing the sale of other selected real property
H2 2013
l Tendering procedures
H1 2014
l Selling the real property
l Handing real property down to new owners
44. Development and improvement of the human capital management quality evaluation system
Final result: Working out a mechanism to evaluate and control actions taken in the area of human resources, with particular emphasis on the quality of staff management processes at the NBP
Time frame: 2013Responsible unit: DK
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Tasks in the Plan of Activity
PLAN OF ACTIVITY FOR 2013-2015 35
H1 2013
l Carrying out research
l Comparative analysis of data for 2010-2012
H2 2013
l Drawing conclusions and presenting them to the NBP Board
45. Launching the employee portal – a platform for comprehensive staff services
Final result: Introducing an IT tool to allow effective management of the flow of personnel information. Improving organisational effectiveness and rationalisation of labour costs
Time frame: 2013-2014Responsible unit: DKIn cooperation with: DIT
H1 2013
l Working out the assumptions for the portal’s operation
H2 2013
l Project implementation
l Portal testing
l Pilot implementation in selected organisational units
H1 2014
l Portal implementation
46. Modernisation and standardisation of protection and security infrastructure at the NBP
Final result: Improving NBP’s security by unifying cryptographic protection, extending and streamlining the system of processing classified information, introducing modern standards of managing IT risk and implementing uniform security standards in all NBP facilities
Time frame: 2013-2014Responsible unit: DO In cooperation with: DIT, DOR, DS, DOK, DES, NBP organisational units
H1 2013
l Designing uniform rules of cryptographic services
l Introducing a system for phone classified communications for the needs of NBP management and transport of values
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Tasks in the Plan of Activity
N a t i o n a l B a n k o f P o l a n d
l Introducing legal amendments to allow the introduction of an IT security management system based on standard PN-ISO/IEC 27001
l Preparing a plan to modernise technical security systems in regional branches
H2 2013
l Introducing unified rules of cryptographic services to NBP IT systems
l Introducing a system of electronic exchange of classified documents
l Introducing technical systems for managing IT security
l Preparing investment plans for the modernisation of technical security systems by individual regional branches
H1 2014
l Completion of the process of introducing technical systems for managing IT security
l Starting the implementation of investment projects concerning the modernisation of technical security systems
H2 2014
l Continuing the implementation of investment projects concerning the modernisation of technical security systems
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