National Bank of Poland rejects State Tribunal motion against Glapiński

Central bank's position

The National Bank of Poland (NBP) published a statement on Tuesday, 10 November 2026, responding to the report of the Sejm's Constitutional Responsibility Committee on a motion to hold NBP president Adam Glapiński liable before the State Tribunal. The report is printed as Sejm document no. 3199 and dated 9 October 2026. The bank argues that such proceedings should not take place at all, pointing to the independence of the central bank as set out in the Polish Constitution, the case law of the Constitutional Tribunal and EU primary law. The statement sets out eight groups of counterarguments, and the bank says it will carry out its mission regardless of decisions taken by the Sejm.

“Conducting proceedings on the constitutional liability of the President of the National Bank of Poland by the Sejm's Constitutional Responsibility Committee should, as a rule, not take place.”

Criticism of the committee's process

The bank says the committee never substantively addressed NBP arguments it had presented since 2024. It describes the evidence-gathering as aimed at confirming theses set in advance, and at a goal the bank links to the 2023 parliamentary election campaign. According to the statement, the proceedings ended without the bank handing over any source materials and without an effective hearing of key witnesses, the central bank's directors, including information they hold under secrecy rules.

The bank also calls the report's conclusions one-sided, selective and biased. It says several witnesses whose testimony was chosen either did not work at the bank during the period they described or are in open conflict with it, so they could have acted only in their own personal interest. NBP notes that testimony from several dozen other people, which it says contradicted those accounts and confirmed that the bank functions properly, was left out of the report.

Bond purchases and the witnesses

Ludwik Kotecki, a newly appointed member of the NBP management board, was one of the witnesses before the committee, and the committee's conclusions partly rest on his testimony, which was secret. In an interview published by Parkiet on 10 November 2026, he said it was not for him to say whether Glapiński should face the tribunal, because he is neither the Sejm nor a court. He said the heaviest economic weight among the charges lies in the purchase of government bonds and the indirect financing of the budget deficit, which he put at 144 billion zloty. The charge is that this financing was unlawful. Kotecki added that the committee's concern is not the bond purchases themselves, since many other central banks make them, but the apparent lack of clear legal frameworks and mandates for such interventions.

Market reaction

Asked about a possible suspension of Glapiński by the Sejm, Kotecki said he did not know how the Polish financial market would cope. He said it would be a situation without precedent, and pointed to 2010, when the NBP presidency was vacant after the Smolensk air crash and the market reacted calmly to a different kind of emergency. On the prospect of a suspension, he said:

“If a row broke out around the NBP, I would expect a negative reaction from the markets.”

The statement and the interview put the dispute between the bank and the committee on the record, but the sources do not give a date for any vote on the motion.