The Polish National Bank announced on Thursday that the fiscal result for 2022 amounted to -16.94 billion PLN, compared to +10.97 billion PLN in 2021. in the financial statements. The NBP press service explained that the reason for the negative result was an increase in interest rates in Poland and abroad, which led to a decrease in the valuation of foreign bonds held by NBP.
prime minister This loss is “purely technical,” Mateusz Morawiecki said on Friday at a press conference. The Prime Minister stressed that there are no targets in the budget that are at risk. – We did not expect any dividend payments from NBP confirmed.
On Friday evening, Marta Keetli, Vice President of the Polish National Bank, spoke on this topic in “Gościu Szkolenia”. – NBP does not work for profit, it fulfills a general mission and the result, whether positive or negative, is to a large extent a side effect of the Bank’s work and activities. – she said in an interview with Piotr Witwicki.
NBP Vice President on Loss: Declining Securities Valuation
Marta Käitli pointed out that the National Bank of Poland maintains foreign exchange reserves and conducts monetary policy, that is, it issues money. – The reserves we accumulate – the equivalent of about PLN 680 billion – are invested in gold and seven safe currencies. I explained.
Video: NBP vice president on loss: the valuation of our securities has fallen
– This money is not held in cash, but is invested in securities, usually the treasury. Subject to different estimates, depending on interest rates. Interest rates rose last year, which means that the valuation of securities is falling – confirmed the deputy head of the NBP.
The Vice-President of the National Bank of Poland also referred to the numerous speeches of the President Adam Glabinski, who attributed the previous good results to the prudent actions of NBP employees. – We have departments that are responsible for managing reserves and are able to make profits safely She indicated.
– The negative result that we recorded last year is technical in this regard This is the valuation of the securities in our portfolio – said Marta Kightly in “Juvenile Guest”
See: Marta Kightley, Vice President of NBP: At the end of next year we will see single-digit inflation
“This is not a realized loss,” added the NBP Vice President. – It’s not like we’ve already experienced this lossI just stressed that the US bonds in our reserves are undervalued to the market due to the increase in interest rates.
– There is an opportunity to make up for losses in the future – added the deputy head of the NBP.
Vice President of NBP: The result is not the most important for us
Marta Kightly stated that other central banks in the world are also responsible for interest rates. – The objective of the NBP is to conduct monetary policy. For us, the result is not the most important stressed.
– In previous years, during the previous term of office of President Adam Glabinski, budget payments amounted to about PLN 35 billion. Current loss means no payments to the budget and that’s it – Notice the cum.
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