Redefining the Role of Banking Regulation in the Banking Sector of European Union / Redefinisanje Uloge Bankarske Regulative u Bankarskom Sektoru Evropske Unije

• Authors: Violeta Todorović , Milena Jakšić , Lazar Sedlarević
• Languages of publication: EN

Abstracts

EN

During the last two decades there have been significant changes in the structure of the banking sector at the European level. Factors such as globalization, integration and development of information technologies had a significant impact on these changes. In terms of the economic integration of Europe and structural changes, there is a need to redefine the regulatory infrastructure, due to inadequate institutional arrangements. The problem topics about reform of banking regulation and establishment of a banking union, as a new level of economic integration of Europe, has been put in the focus of interest during the global financial crisis. For this reason, the paper attempts to give a comprehensive analysis of the reasons and ways to reform regulation of the banking sector. Using a critical review of the implemented reforms of banking regulation at the national and supranational level will be reconsidered their applicability in specific problem situations and suggest measures for further improvement.

Keywords

EN

regulation of banking activities; regulatory reform; global financial crisis; banking union

• Publisher: Sciendo
• Journal: Economic Themes
• Year: 2015
• Volume: 53
• Issue: 1
• Pages: 18-36

Dates

published

2015-03-01

received

2014-10-14

accepted

2015-04-16

online

2016-04-15

Contributors

author

Violeta Todorović

• University of Kragujevac, Faculty of Economics, Serbia

author

Milena Jakšić

• University of Kragujevac, Faculty of Economics, Serbia

author

Lazar Sedlarević

• PhD student, University of Kragujevac, Faculty of Economics, Serbia

References

• Acharya, V. (2012) „Banking union in Europe and other reforms”, in Beck T. (ed) Banking Union for Europe - Risks and chalenges, London: Centre for Economic Policy Research (CEPR)
• Adrian, T. and H. Shin (2008) „Financial Intermediaries, Financial Stability and Monetary Policy”, Proceedings of the 2008 Federal Reserve Bank of Kansas City Symposium at Jackson Hole, August
• Allen, F., L. Bartiloro, and O. Kowaleski (2005) The Financial System of the EU 25, Wharton School, Pennsylvania: University of Pennsylvania
• Allen, F. and E. Carletti (2008) The roles of banks in financial systems. University of Pennsylvania and University of Frankfurt and CFS.
• Casu, B., C. Girardone, and P. Molyneux (2006) Introduction to banking, New Jersey: Prentice Hall
• Ćirović, M. (2007) Bankarstvo, Beograd: Naučno društvo Srbije
• Commission Directive 2006/73/EC of the Commission of the European Communities, Official Journal of the European Union L 241, 2. September 2006
• Commission Regulation No. 1287/2006 of the Commission of the European Communities, Official Journal of the European Union L 241, 2. September 2006
• De Larosiere, J. (2009) „The high-level group on financial supervision in the EU”, Report, Brussels
• European Commission, (2007) „FSAP Evaluation - Part I: Process and implementation”, Brussels
• European Commission, (2012) „Communication From The Commission To The European Parliament And The Council A Roadmap Towards A Banking Union”, European Commission, COM(2012) 510 final, Brussels
• Goddard, J., P. Molyneux, and O. S. J. Wilson (2010) „Banking in the European union”, in Berger A., P. Molyneux,and O. S. J. Wilson (ed), The Oxford handbook of banking, Oxford university press, pp. 807-843,
• Goyal, R., P. K. Brooks., M. Pradhan, T. Tressel., G. Dell’Ariccia., R. Leckow, and C. Pazarbasioglu (2013) „A Banking Union for the Euro Area”, International Monetary Fund
• Gruson M. and W. Nikowitz (1988) „The Second Banking Directive of the European Economic Community and Its Importance for Non-EEC Banks”, Fordham International Law Journal, 12 (2): 205-240
• Ioannidou, V. (2012) „A first step towards a banking union” in Beck T. (ed), Banking Union for Europe - Risks and Challenges, London: Centre for Economic Policy Research (CEPR), pp. 85-95
• Lamfalussy, A. (2000) „Initial report of the Committee of wise men on the regulation of European securities markets”, Brussels
• Lükanen, E. (2012) „High-level Expert Group on reforming the structure of the EU banking sector”, Final report, Еuropean Union
• Mülbert, P. O. and A. Wilhelm (2011) „Reforms of EU Banking and Securities Regulation after the Financial Crisis”, Banking & Finance Law Review, 26: 187-232
• Schoenmaker, D. (2012) „Banking Supervision and Resolution: The European Dimension”, DSF Policy Paper, No. 19, Duisenberg school of finance
• Schooner, M. H. and W. M. Taylor (2010) Global bank regulation - principles and policies, Amsterdam: Elsevier Inc.
• Speyer, B. and N. Walter (2007) „Towards a new structure for EU financial supervision”, Deutsche Bank Research Paper, Frankfurt Am Main, , pp. 4-5. http://www.dbresearch.com/PROD/DBR_INTERNET_ENPROD/PROD0000000000214976.pdf
• Staikouras, K.C. and A. Koutsomanoli - Fillipaki (2006) „Competition and Concentacion in the New European Banking Landscape”, European Financial Management, 12(3): 443-482[Crossref]
• Veron, N. (2011) „Banking Federalism is Key to Eurozone’s Survival”, Emerging Markets - G20 Edition, November 3.
• Wyplosz, C. (2012) „Banking union as a crisis-management tool”, in Beck T. (ed) Banking Union for Europe - Risks and chalenges, London: Centre for Economic Policy Research (CEPR)
• Zettelmeyer, J., E. Berglöf and de Haas Ralph (2012) „Banking union - the view from emerging Europe”, in Beck T. (ed) Banking Union for Europe - Risks and chalenges, London: Centre for Economic Policy Research (CEPR)
• http://sdw.ecb.europa.eu/ (21.08.2014)
• http://www.ebrd.com/pages/research/economics/data/macro.shtml#ti (23.08.2014)

Identifiers

DOI

10.1515/ethemes-2015-0002