Poland's financial regulator, the Polish Financial Supervision Authority (KNF), has presented a new draft to the “T Recommendation” which regulates banks' consumer loan activities. If passed, the new, looser regulations would make it possible for banks to provide customers with loans using only the Polish National Identity card as proof of residence.

“The simplified regulations will be able to be adopted by banks which meet our expectations,” Andrzej Jakubiak, the KNF's chairman, told a conference on Monday. He added that these were banks that were well-capitalized and were able to take on greater risk.

Poland A.M.