The PLN equivalent of EUR is calculated on the basis of the average exchange rate announced by the National Bank of Poland on the day of fulfilment of the guarantee condition (i.e. on the day referred to in the decision of the Polish Financial Supervision Authority as the day of suspension of a bank’s or credit union’s operations and, respectively, appointment of reveivership or receiver, as well as filing a petition to declare bankruptcy at a relevant court, or on a day where the BFG files a petition to declare bankruptcy at a relevant court in the context of the resolution and recovery proceedings pending with reference to the bank or credit union.
