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1

Banking Union: An Effective Instrument for the Eurozone Banking Sector or a Useful Distraction from Other Issues?

100%
Zombirt J.
The Polish Quarterly of International Affairs
|
2014
|
issue 3
127-138
EN
The ongoing review performed by European institutions with closer and closer cooperation with Member States since the beginning of the crisis has revealed that nowadays, with globalisation and the greater presence of trans-border banks, such a situation can jeopardise not only the process of economic integration and the completion of the single market for financial services but also, according to the directive, “continuation of the critical functions of institutions and the preservation of financial stability.” It can also threaten confidence in the European financial markets and financial players, which in turn could bring unintended consequences for economic growth. From political and economic points of view, such a situation could no longer be accepted. Therefore, politicians and economists, having been accused of doing nothing by European taxpayers bearing the huge costs of numerous rescue packages granted to failing banks, had to find a solution.
2

Hungary’s Perspective on the Banking Union and Remarks on the Possibility of Eurozone Accession

80%
Domonkos E.
The Polish Quarterly of International Affairs
|
2014
|
issue 3
37-48
EN
The objective of this essay is to analyse the position of the Hungarian government towards the banking union. In order to better understand the official standpoint of the cabinet, it is necessary to make a brief overview related to the possible introduction of the euro in Hungary. As far as the country’s preparedness for the adoption of the euro is concerned, several internal factors (fulfilment of the Maastricht convergence criteria, pursuance of credible and responsible economic policy that promote sustainable economic growth and macroeconomic stability, etc.) and external ones (the structural problems of some eurozone countries and the extended and modified rules of the Stability and Growth Pact and the Euro Plus Pact) have to be taken into account if a responsible decision about accession to the eurozone is to be taken. Only with wide consensus between the participants in the country’s economy and society and considered, balanced economic policy can Hungary reap the possible benefits of the adoption of the common currency.
3
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AN OVERVIEW OF THE LEGAL FRAMEWORK OF THE BANKING UNION

70%
Podgórski M.
Review of European and Comparative Law
|
2018
|
vol. 33
|
issue 2
95-118
PL
The article provides an overview of the legal structure of the Banking Union consisting of two pillars – the Single Supervisory Mechanism and the Single Resolution Mechanism. As a point of departure, it discusses the reasons for the creation of the Banking Union. Then, it analyses the legal structure of the Single Supervisory Mechanism in order to compare it to the legal framework of the Single Resolution Mechanism and shows that the differences in their design are a corollary of disparate legal bases for both instruments. Finally, it argues that the disputed legal basis for the regulation establishing the Single Resolution Mechanism is sufficient in light of Meroni doctrine as formulated in the Short-selling case.
4
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Banks’ Trust in the EU Macroprudential Regulation

70%
Huhtilainen M.
Journal of Banking and Financial Economics
|
2019
|
issue 2(12)
29-38
EN
Prior studies suggest that regulatory uncertainty is potentially detrimental to the wider economic performance, to the effectiveness of regulatory measures and to the objective of harmonized rules and a level playing field across jurisdictions. This paper discusses on the applicability of banks’ perceived trust as a method to evaluate the quality of the EU macroprudential regulation. Accordingly, the regulatory credibility, as opposed to regulatory uncertainty, is assumed to indicate consistent, predictable and solid regulatory and institutional environment. This paper argues that the perception of trust and the regulatory credibility are interrelated so that one cannot exist without the other. For the purpose of this study, a representative survey was conducted with Finnish banks and conglomerates. Although the respondents expressed, overall, slight trust in the ability of the renewed EU macroprudential regime to accomplish its intended objectives, definitive and direct conclusions are avoided. This is due to the several limitations of the survey and as such, the results are merely to provide context for the paper.
5
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An Overview of Micro- and Macroprudential Policy Tools in the EU in the Times of the COVID-19 Pandemic Economic Shock

61%
Radek A.
Studia Europejskie-Studies in European Affairs
|
2021
|
vol. 25
|
issue 2
49-65
EN
The financial crisis from 2008 and the following Eurozone crisis from 2012 created an incentive to establish a system of financial supervision at the European Union (“EU”) level, due to the fact that the policy tool commonly used turned out to be ineffective. With regards to banking supervision, the package of legislations: “CRR/CRD” and “BRRD” has been adopted as a response to financial system shortcomings, in order to make it more resilient and harmonised. One of the challenges was to take control of the so-called: “too big to fail” financial institutions, therefore next to macroprudential supervision, microprudential policy pools were introduced. This constituted the phenomena of the shift from regulationbased supervision to risk-based supervision with the aim of reducing the systemic risk in each and every EU Member State and, in turn, prevent possible future crises. In this paper, those methods will be gathered, presented, and discussed in the light of the current COVID-19 pandemic crisis.
6
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The Single Resolution Mechanism in Action. An Analysis of the Decision-making Practice of the Single Resolution Board

61%
Podgórski M.
Polish Yearbook of International Law
|
2018
|
vol. 38
229-252
EN
The article provides an overview of the supranational bank resolution regime established under the Single Resolution Mechanism framework. Both the substantive rules governing the resolution process and its procedural requirements are explained. The main focus of the article is the decision-making practice of the Single Resolution Board (SRB), an EU agency responsible forthe execution of the resolution framework, which has already intervened in a number of cases in which banks were considered “failing or likely to fail” by the European Central Bank. Thearticle analyses the existing decisions on resolution action in order to establish how the substantive rules on resolution are interpreted by the SRB in its decision-making practice.
7

Unia bankowa oraz jej wpływ na nadzór finansowy w Polsce

51%
Kursa K.
Pieniądze i Więź
|
2016
|
vol. 19
|
issue 2(71)
79-86
PL
W Unii Europejskiej w szybkim tempie następuje rozwój nadzoru pod postacią wspólnej unii bankowej dla strefy euro. Jest to innowacyjny, skomplikowany i daleko idący projekt reformy mającej na celu zmiany instytucjonalne i regulacyjne. Koncepcja unii bankowej była odpowiedzią na zachowanie banków w okresie globalnego kryzysu finansowego i wedle jej docelowych założeń ma zwiększyć poziom stabilności finansowej w Unii Europejskiej. Celem badań jest określenie pozytywnych i negatywnych wpływów na nadzór finansowy w Polsce przy funkcjonowaniu unii bankowej. Rozważając sens tworzenia unii bankowej, należy także przywołać hipotezę, iż według ekonomistów i politologów jest ona koniecznym uzupełnieniem Unii Gospodarczej i Walutowej. Dodatkowo, istnieje także eskalująca opinia, iż nadzór w postaci unii bankowej wpłynie znacząco na przezwyciężenie kryzysu zadłużenia Unii Europejskiej, o czym świadczy ujednolicenie mechanizmów zapobiegawczych, jak i sankcyjnych wobec instytucji wysokiego ryzyka. Projekt unii bankowej jest bardzo intensywnie dyskutowany, zarówno w krajach strefy euro jak i poza nią. Należy zaznaczyć, iż pomimo, że unia bankowa jest obligatoryjna tylko dla krajów strefy euro, to także w Polsce prowadzona jest dyskusja pomiędzy zwolennikami i przeciwnikami scentralizowanego nadzoru europejskiego. Nie należy również zapominać, iż w porównaniu z krajami strefy euro, polski system finansowy bardzo dobrze przetrwał okres globalnego kryzysu. Artykuł poświęcony przedmiotowej dyskusji jest w pełni uzasadniony, ponieważ powstanie unii bankowej nie jest obojętne dla polskich banków, których znaczący udział faktycznie znajduje się w krajach strefy euro.
EN
In the European Union there is a rapid development of supervision in the form of a common Banking Union for the euro area. It is an innovative, complex and far-reaching reform project aimed at institutional and regulatory changes. The concept of a Banking Union was a response to the behavior of banks during the global financial crisis, and according to its target objectives, it is to increase the level of financial stability in the European Union. The aim of the study is to determine the positive and negative impacts on financial supervision in Poland with the functioning of the Banking Union. Considering the point of creating Banking Union, one should also recall the hypothesis that, according to economists and political scientists, it is a necessary complement to Economic and Monetary Union. In addition, there is also escalating opinion that supervision in the form of Banking Union will significantly overcome the debt crisis in the European Union as evidenced by standardizing prevention mechanisms, as well as sanction mechanisms against high-risk institutions. The project Banking Union is very intensely discussed both in the euro zone and beyond. It should be noticed, that although Banking Union is obligatory only for the euro area countries, also in Poland, there is a discussion between supporters and opponents of a centralized European supervision. It should also be mentioned that, in comparison with the countries of the euro zone, Polish financial system survived the period of global crisis very well. Article devoted to the subject of discussion is fully justified, because the creation of a Banking Union is not indifferent to Polish banks, whose considerable share is located in the euro area countries.
8

A Resolution in the Spanish Banking Sector: The Case of Banco Popular Español

51%
Kozińska M.
Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
|
2018
|
issue 6(978)
61-80
EN
The restructuring of Banco Popular Español (BPE) through its takeover by Banco Santander provided a valuable example of the first resolution framework application, which allowed for the assessment of its effectiveness. However, similar crisis tools were also utilised in the Spanish banking sector in 2008–2013. Their analysis may provide a valuable contribution to the issue of selecting the most appropriate resolution tools for banks, which can be utilised by Spain and other EU countries when further restructuring their respective banking sectors or managing crises. The aim of this article is to evaluate the effectiveness of the BPE resolution. Additionally, other examples of the application of the “sale of business” tool from the Spanish banking crisis of 2008–2013 were assessed. The conclusions were then used to assess the possible application of similar tools at other banks in Spain and other European countries.
PL
Restrukturyzacja Banco Popular Español (BPE) poprzez jego przejęcie przez Banco Santander stanowiła przykład pierwszego zastosowania systemu resolution, pozwalający na ocenę jego efektywności. Należy jednak zaznaczyć, że podobne narzędzia kryzysowe były stosowane w hiszpańskim sektorze bankowym także w latach 2008–2013. Ich analiza może być pomocna przy dokonywaniu wyboru najbardziej odpowiednich narzędzi restrukturyzacji i uporządkowanej likwidacji banków, które Hiszpania oraz inne kraje Unii Europejskiej mogą wykorzystać w przypadku dalszej restrukturyzacji sektora bankowego lub w przypadku kryzysu bankowego. Celem artykułu jest ocena skuteczności resolution BPE. Dokonano także oceny innych przykładów zastosowania narzędzi zbycia działalności bankowej podczas kryzysu bankowego w Hiszpanii w latach 2008–2013. Wnioski zostały wykorzystane do oceny możliwości zastosowania podobnych narzędzi w odniesieniu do innych banków w Hiszpanii i pozostałych krajach Unii Europejskiej.
9

Niemcy wobec reformy ustrojowej strefy euro

51%
Węc J.
Roczniki Nauk Społecznych
|
2016
|
vol. 8(44)
|
issue 3
45-83
PL
Przedmiotem artykułu jest analiza stanowiska Niemiec wobec realizowanej od 2012 r. reformy ustrojowej strefy euro. Pierwsza część artykułu poświecona została procesowi reformy w latach 2012-2015, a następnie od 1 lipca 2015 r. W drugiej części zrekonstruowano debatą publiczną w Niemczech poświęconą realizacji reformy najpierw w latach 2011-2012 (pierwsza faza), potem w latach 2012-2015 (druga faza), a następnie od 1 lipca 2015 r. (trzecia faza). Natomiast w części trzeciej omówiono w sposób syntetyczny – z powodu ograniczonych ram objętościowych tekstu – wpływ rządu RFN na przebieg kryzysu oraz kształt negocjacji legislacyjnych dotyczących zmian ustrojowych w strefie euro.
EN
The article concentrates on the study of the Germany`s attitude to the system reform of the euro area being implemented since 2012. The first part of the article has been devoted to the reform`s process in the years 2012-2015, and next since July 1st 2015. The second part presents the public debate on the reform`s process being held in Germany in the years 2011-2012 (stage I), the in 2012- 2015 (stage II), and since July 1st 2015 (stage III). The influence of the German government on the crisis` process and the form of legislative negotiations regarding the system changes in the euro area has been discussed at length in the third part.
10
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Perspektywy zmian ustrojowych w Unii Europejskiej do 2025 r. Implikacje dla Polski

41%
Węc J. J.
Przegląd Zachodni
|
2018
|
issue 1(366)
7-32
EN
The research objective of the paper is to critically analyze the system reform of the European Union planned by 2025, in particular the reform of the eurozone, changes in EU social policy, reform of the EU Common Security and Defence Policy, and changes in EU finances. The author formulates two research hypotheses. The first is based on the assumption that the systemic reform will strengthen the European Union. However, the second hypothesis is that this reform will have a significant impact on Poland’s future position in the EU. In this context, the author also formulates conclusions and recommendations on the benefits and dangers for Poland resulting from the planned EU reform.
11
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Europejska unia bankowa – nowy wymiar ryzyka systemowego

41%
Koleśnik J.
Problemy Zarządzania
|
2013
|
issue 2/2013 (42)
91-110
PL
W artykule został przedstawiony wpływ zmian koncepcji nadzoru bankowego w Unii Europejskiej, w tym projektowanej unii bankowej, na poziom ryzyka systemowego we wspólnotowym systemie bankowym. Dokonana została także analiza filarów unii bankowej w kontekście przed- i postkryzysowych koncepcji integracji instytucji sieci bezpieczeństwa w UE. Szczególna uwaga została poświęcona proponowanej konstrukcji jednolitego mechanizmu nadzorczego z wiodącą rolą EBC, wspólnym ramom gwarantowania depozytów oraz wspólnym ramom mechanizmu restrukturyzacji i uporządkowanej likwidacji banków. Na podstawie dokonanej analizy projektowanych mechanizmów wskazano, iż ryzyko systemowe w unijnym sektorze bankowym wzrośnie w związku z budową unii bankowej.
EN
The article presents the impact of the changes to the concept of the banking supervision in the European Union, including the proposed banking union, on the level of systemic risk in the Community banking system. An analysis of the pillars of banking union in the context of pre-and post-crisis concepts of integration of safety net institutions in the EUwas also performed. Particular attention was paid to the proposed construction of a single supervisory mechanism with the leadership role of the ECB, the common framework for deposit insurance and common framework for recovery and resolution of banks. On the basis of the analysis of the proposed mechanisms it was shown that systemic risks in the EU banking sector will increase due to the construction of a banking union.
12
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Europejska unia bankowa – nowy wymiar ryzyka systemowego

41%
Koleśnik J.
Problemy Zarządzania
|
2013
|
issue 2/2013 (42)
91-110
EN
The article presents the impact of the changes to the concept of the banking supervision in the European Union, including the proposed banking union, on the level of systemic risk in the Community banking system. An analysis of the pillars of banking union in the context of pre-and post-crisis concepts of integration of safety net institutions in the EUwas also performed. Particular attention was paid to the proposed construction of a single supervisory mechanism with the leadership role of the ECB, the common framework for deposit insurance and common framework for recovery and resolution of banks. On the basis of the analysis of the proposed mechanisms it was shown that systemic risks in the EU banking sector will increase due to the construction of a banking union.
PL
W artykule został przedstawiony wpływ zmian koncepcji nadzoru bankowego w Unii Europejskiej, w tym projektowanej unii bankowej, na poziom ryzyka systemowego we wspólnotowym systemie bankowym. Dokonana została także analiza filarów unii bankowej w kontekście przed- i postkryzysowych koncepcji integracji instytucji sieci bezpieczeństwa w UE. Szczególna uwaga została poświęcona proponowanej konstrukcji jednolitego mechanizmu nadzorczego z wiodącą rolą EBC, wspólnym ramom gwarantowania depozytów oraz wspólnym ramom mechanizmu restrukturyzacji i uporządkowanej likwidacji banków. Na podstawie dokonanej analizy projektowanych mechanizmów wskazano, iż ryzyko systemowe w unijnym sektorze bankowym wzrośnie w związku z budową unii bankowej.
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