Bank Deposit Guarantee System in Poland

Abstract

In the legal systems of most European countries, the regulations defining the term of credit institution are included in the Civil Code or in the Banking Law. In most cases, those regulations only indicate what sums of money can be described as deposits. Sometimes the legal nature of a bank deposit is emphasized by a statutory recognition of the depositary's ownership rights of the deposited sum, at a date specified in the contract or on the depositor's demand. I In a bank-account contract, the bank assumes an obligation toward the account's owner to keep their money resources and to settle the owner's accounts on their demand within a limited or unlimited time. The above definition provides the basis for the description of key elements of a bankaccount relationship. 1. A contract can be described as a bank-account contract only if one of the parties is a bank. The Civil Code does not limit the range of a bank's contractors. They can be private persons as well as corporate bodies, including other banks, and also business organizations without legal status. 2. The bank has an obligation toward the account owner to keep his or her funds. In this case, keeping means that the bank enters the sum received from a customer into the bank's ledgers. The bank has the above sum at its disposal; however, the account owner can claim his or her deposit together with interest. A money deposit as an economic category is a credit balance of a bank