National Bank of Poland - Narodowy Bank Polski · 4 Abbreviations National Bank of Poland...

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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Objectives of the National Bank of Poland


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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



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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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


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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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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


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


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


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


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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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


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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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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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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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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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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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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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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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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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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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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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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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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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

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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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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

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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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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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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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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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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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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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