The Banking Union as a component of financial security net

Jerzy Węcławski

Abstract


Financial and economic crisis has led to a re-evaluation of the idea of financial markets deregulation. Public authorities have lost the control over the functioning of the large banks, whose activity put the stability and security of economies to threat. New supervising institutions are being created in the European Union. Their control covers all bodies from the  Eurozone countries recognised as essential in terms of financial security system. Such supervision over remaining bodies from the EU is optional. With the conflict of national interests a complicated structure of entities and supervisory procedures has been created. This, in turn, may affect efficiency of tasks realised. One positive element of this change is implementing solutions, which will allow to brake rescuing big banks by means of public resources under crisis circumstances.


Keywords


financial stability, Systemically Important Financial Institutions, bank supervision, Banking Union

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DOI: http://dx.doi.org/10.17951/h.2015.49.2.233
Date of publication: 2015-07-28 13:12:36
Date of submission: 2015-07-28 11:00:50


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