Regulatory Alerts2016-01-01
Recommendation K regarding the rules for mortgage banks to maintain the mortgage bond security register
The Polish Financial Supervision Authority issued Recommendation K to establish the general principles and specific requirements for mortgage banks to maintain the security register for mortgage bonds. The document mandates that registers be kept in paper or electronic form with strict controls on access, data integrity, and backup procedures, particularly referencing IT security standards for electronic systems. It further outlines requirements for the accuracy of entries, the format of copies submitted to the regulator, and the trustee's role in verifying and approving the register's contents.
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