Polish Banks Gain as New Buffer Said Not to Raise Requirements
- New 3 percent bank buffer said to replace existing measure
- Bank stocks under pressure on lending impact, dividend fears
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Poland’s new capital requirements, recommended by the country’s financial watchdog, won’t create an additional burden on lenders, a person with knowledge of the plans said. Bank stocks rebounded.
The WIG Bank gauge, which slumped as much as 1.7 percent earlier on Monday, rose 0.1 percent as of 6:19 p.m in Warsaw. The rebound was led by the country’s biggest lenders PKO Bank Polski SA and Bank Pekao SA. The initial decline came after the Financial Stability Committee unexpectedly recommended on Friday that all Polish banks introduce a “systemic risk buffer” of 3 percent of their capital as part of the planned solution to the country’s $36 billion of foreign-currency mortgages.