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THE IMPACT OF THE GLOBAL BANKING CRISIS ON CENTRAL BANKING (Wplyw globalnego kryzysu bankowego na bankowosc centralna)

100%
Slawinski A.
Ekonomista
|
2010
|
issue 2
145-162
EN
The scale of the recent global banking crisis was for central banks unexpected, because banks took losses in the new fields of their activities that were not effectively supervised. Additionally, banks themselves were not aware of the scale of their potential losses as they did not create effective information systems measuring their risks. The severity of the global recession resulted mainly from the large scale of the banking crisis. This illustrated that financial system did not have such neutral impact on the economy, as was assumed in the DSGE models. It will be difficult to include financial sectors into the general equilibrium models as the functioning of financial systems is characterized by short-time horizons, important role of the behavioral factors and non-linear dynamic properties. After the experiences of the recent crisis, central banks will use interest rates policy not only to stabilize inflation, but also to tame unstable lending booms. However, the experiences of the recent crisis show that rising interest rates might not be sufficient to prevent boom-bust cycles. Thus, there is necessity to change banking supervision that should shield not only the stability of banks but also to hedge the economy against boom-bust cycles. This opens the new filed for coordination between monetary policy and banking supervision which wait to be covered by macroeconomic research. Central banks will be interested also in tightening supervision over the inter-bank markets for commodity forward contracts, because speculation on the these markets was an important factor behind the global sharp rise in food, oil, gas and metal prices that induced central banks to raise interest rates despite the approaching recession.
2

Przymusowe przejecie banku

88%
Gonet W.
Przegląd Prawa Publicznego
|
2012
|
issue 3
27-37
EN
The article concerns law aspects of obligatory takeover of the bank that faces the threat of bankruptcy. It has been proven the existing procedures in that field, that are based on the decision of Polish Financial Supervision Authority, are not comprehensive and satisfactory. Furthermore the complex and long-lasting procedure may be finished unsuccessfully, as the banks may not be granted the required concentration permission from the president of the Office of Competition and Consumer Protection. Regulations concerning obligatory takeover of the bank do not include unequivocal definitions that allow the bank (that takes over the bank under the threat of bankruptcy) to start due-diligence, in particular concerning the information that are protected under the bank secrecy. This bank is exposed to higher risk, therefore article 147 of Bank Law may have limited utilization. In the text the postulates have been formulated concerning the change within regulations in the area of obligatory takeover of the bank, through the increase of importance of the Polish Financial Supervision Authority in the whole process, that would allow the potential bank/s to proceed due-diligence of the bank to be taken over and indicate solutions to be implemented, when more than one bank expresses interest in the takeover. This last area is not the subject of any regulation.
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