Committee moves to bring NBP President before the State Tribunal

The Sejm's Constitutional Accountability Committee has adopted a report recommending that NBP President Adam Glapiński be held accountable before the State Tribunal. The eight charges include, among others, the purchase of bonds between 2020–2021 to finance the deficit by at least 144 billion PLN without MPC authorization, currency interventions, political interest rate cuts, and a violation of political neutrality. The further procedure involves a vote on the Sejm floor no earlier than November 2026, and the potential suspension of the President raises legal disputes and concerns regarding the continuity of the central bank's operations.

Deputy chair of the committee Iwona Arent (PiS) stated after the closed session that the report was approved by the Civic Coalition along with some of its coalition partners. Opposition politicians filed a minority report, accusing the coalition of seeking to destabilize state finances. The committee concluded evidence gathering on October 6. It heard witnesses including MPC members Joanna Tyrowicz and Ludwik Kotecki, KNF head Jacek Jastrzębski, former PKO BP CEO Zbigniew Jagiełło, and former Prime Minister Mateusz Morawiecki.

The document also accuses Glapiński of obstructing access to documents for bank body members, declaring a 6 billion PLN profit transfer to the budget despite a projected loss, and granting himself four automatic quarterly bonuses. The NBP President rejects the accusations. He announced he would not participate in the procedure, citing a 2024 Constitutional Tribunal ruling.

Parliamentary procedure and legal discrepancies

Committee chair Zdzisław Gawlik (KO) submitted the report to Sejm Speaker Włodzimierz Czarzasty on Friday, October 9. According to regulations, the Sejm will hold a debate no earlier than 21 days after the report is delivered to deputies.

The Act on the State Tribunal provides that the Sejm votes to hold the NBP President accountable by an absolute majority with at least 230 deputies present. Such a resolution results in the suspension of the President. However, these provisions were challenged by the Constitutional Tribunal in early 2024. The CT, led by Julia Przyłębska, ruled that effectively bringing the NBP head before the State Tribunal requires a 3/5 majority, also negating automatic suspension by a mere Sejm resolution. Glapiński's second term ends in June 2028.

NBP operations and banking sector reaction

MPC member Ludwik Kotecki informed PAP that the absence of the President would not stop the Monetary Policy Council's work. In the absence of the chair, the nine-member MPC is led by a designated member, currently Ireneusz Dąbrowski. Kotecki noted that interest rate decisions take effect automatically after the communiqué is published. He pointed out organizational complications in convening meetings, as the position of First Deputy NBP President remains vacant, and the term of Second Deputy Adam Lipiński expires in November 2026.

Polish Bank Association President Tadeusz Białek pointed to risks to institutional stability. He recalled that the NBP head chairs the Financial Stability Committee as part of macroprudential supervision. In the ZBP's assessment, disruptions in the central bank's management create risks for open market operations, exchange rate policy implementation, payment system supervision, and credit rating agency assessments.

Sources

• Puls Biznesu: MPC member on the situation around the NBP: the most important thing is that the Polish currency does not become a victim
• Polsat News: NBP President closer to the State Tribunal. Committee decision made
• Money.pl: Unprecedented move. A tribunal for Adam Glapiński? The committee has decided
• Zero.pl: State Tribunal for Adam Glapiński. The die is cast
• Puls Biznesu: Beer giant boss leaves, Revolut prepares debut, committee recommends State Tribunal for Glapiński (Top news of the day)
• Puls Biznesu: Committee moves to bring Adam Glapiński before the State Tribunal. Now the Sejm decides

Article prepared with the help of artificial intelligence based on: Puls Biznesu, Polsat News, Money.pl, Zero.pl. Facts checked automatically against these sources. The Wiadomości PRO newsroom is responsible for this publication.