Title I: Scope, Definitions, and Authorities

2017 ◽  
Author(s):  
Gabriel Moss QC ◽  
Bob Wessels ◽  
Matthias Haentjens
Keyword(s):  
Title I ◽  
Financial System ◽  
Banking Union ◽  
Insolvency Law ◽  
Single Resolution Mechanism ◽  
Credible Set ◽  
The Impact

In Part I, Chapter 1 at paras 1.22 ff, we set out the context in which the Bank Recovery and Resolution Directive (BRRD) was drafted and how it aims to harmonize, in short, substantive bank insolvency law. Together with the Single Resolution Mechanism Regulation (SRMR), the BRRD forms the second pillar of the Banking Union and intends ‘[t]‌o provide authorities with a credible set of tools to intervene sufficiently early and quickly in an unsound or failing institution as to ensure the continuity of the institution’s critical financial and economic functions, while minimising the impact of the institution’s failure on the economy and financial system’ (recital (15)). The BRRD had to be implemented into national law by 31 December 2014.

scholarly journals Unia bankowa a stabilność systemu finansowego UE

2017 ◽  
pp. 75-88
Author(s):  
Małgorzata Mikita
Keyword(s):  
European Union ◽  
Financial Market ◽  
Financial System ◽  
Banking Union ◽  
The European Union ◽  
Single Supervisory Mechanism ◽  
Single Resolution Mechanism ◽  
The Stability ◽  
The Impact ◽  
The Eu

Banking union is a new concept of the European Union in the field of financial market. The project aim is to strengthen the financial system and increase its resistance to crises that may arise in the future. This article aims to analyse the impact of the banking union on the stability of the financial system in the EU. Three pillars of the banking union are taken into account: single supervisory mechanism, single resolution mechanism and single deposit guarantee scheme. The author argues that the banking union can contribute to the stability of the financial system in the EU, but it cannot guarantee it

Analyzing the impact of financial momentum on the development of the economy

2020 ◽  
Vol 26 (2) ◽  
pp. 299-315
Author(s):  
V.V. Smirnov
Keyword(s):  
Financial Regulation ◽  
Systems Approach ◽  
Financial System ◽  
Modern Economic ◽  
And Performance ◽  
The Interest Rate ◽  
National Economies ◽  
Economic Ties ◽  
The Impact ◽  
Global Financial System

Subject. The article discusses the momentum in finance. Objectives. The study reveals the impact of financial momentum as the unity of antipodes in the development of the national economy. Methods. The study is based on a systems approach and methods of descriptive statistics. Results. I discover the ultimate goal of globalization, i.e. the substantive simplification of national economies and strengthening of global economic ties. The goals determine the logic tendency of national economies for reducing the interest rate so as to gain the financial momentum and, consequently, fanning the crisis risk in the global financial system. The global financial system became the substance of global economic processes, which determined development opportunities of national economies. I reveal what countries have the high and low financial momentum. Conclusions and Relevance. Being the unity of antipodes in the modern economic development, financial momentum causes countries to lose their economic identity, making them just functions of the global financial system. The cyclical development model of national economies is replaced with the metron model that rests on fluctuating advanced economies with the low financial momentum at its bottom and emerging economies at its top. The findings crystallize the concept and new competencies for a person who decide on the determination and performance of financial regulation activities.

Influence of internal and external risks on sustainability of financial system of Аltai krai

2018 ◽  
Vol 35 (4) ◽  
pp. 133-136
Author(s):  
R. N. Ibragimov
Keyword(s):  
Sustainable Development ◽  
Financial Stability ◽  
Management Strategy ◽  
Financial System ◽  
Risk Management Strategy ◽  
The Sustainable Development ◽  
The Stability ◽  
The Impact

The article examines the impact of internal and external risks on the stability of the financial system of the Altai Territory. Classification of internal and external risks of decline, affecting the sustainable development of the financial system, is presented. A risk management strategy is proposed that will allow monitoring of risks, thereby these measures will help reduce the loss of financial stability and ensure the long-term development of the economy of the region.

A Window to Internal and External Change in Banking

2018 ◽  
Author(s):  
Bernardo Bátiz-Lazo
Keyword(s):  
Twentieth Century ◽  
Computer Technology ◽  
Business Organizations ◽  
Organizational Challenges ◽  
Late Twentieth ◽  
Self Service ◽  
The Impact ◽  
Late Twentieth Century ◽  
Proper Consideration

Chapter 1 (‘A Window to Internal and External Change in Banking’) provides a wide-arch view of the themes in the book. It highlights how in spite of being deeply embedded in our culture as an object of everyday life, the interaction with ATMs is largely inconsequential for most people. This chapter also forwards a case to study the ATM to better understand the possibilities for technological change to bring about a cashless economy. Another argument put forward is that the ATM is essential to appreciate the technological and organizational challenges that gave rise to self-service banking. As a result, the case is made that business histories of the late twentieth century will be incomplete without proper consideration to the impact of computer technology on the different aspects of business organizations.

FINANCIAL SYSTEM RISKS

2021 ◽  
pp. 13-21
Author(s):  
S. E. Demidova ◽  
Keyword(s):  
Public Finance ◽  
Social Economic ◽  
Financial System ◽  
System Stability ◽  
Theoretical Research ◽  
Financial Risks ◽  
The Public ◽  
Systemic Risks ◽  
The Social ◽  
The Impact

Government interference in the social-economic processes through the implementation of anti-crisis measures and fiscal expansion holds the embodiment of financial risks for economic entities. As a result, government debt and budget gaps at the continuing drop of real disposable household income and companies’ profitability grow. Over a long-term horizon, the decisions made can cause a financial system misbalance and new risk generation, including systemic risks in the sphere of public finance. The author carries out the theoretical research of financial system risks, which can result in a decrease in the system stability in general. The study determines that there is no single theoretical concept of financial risks of the public sector. Within the research, the author analyzed the approaches to systemic risks in various economic sectors and decomposed systemic risk of the public finance sphere. The study specified global factors of influence on the financial system stability, determined the impact factors and common fiscal limitations considering the needs in the execution of state obligations. The pandemic factor – COVID-19 spread is highlighted as an exogenous factor of impact on the formation of financial system misbalances. The main threat to the financial system stability considered in terms of the functional-institutional approach is the deficiency of economic entities’ liquidity. Unprecedented budgetary measures of anti-crisis financial regulation, the deferred impact – tax preferences, and monetary measures had an immediate influence on the liquidity volume during the implementation of anti-COVID activities. Tools of budgetary monitoring, budget expenditures reviews, tax expenditures reviews, and budget consolidation ensure the budget mechanism flexibility. Factors producing financial system risks and the selected measures of state regulation will set the trends for the social-economic development of the country in the coming years.

Financial battle against climate change – assessing effectiveness using a scorecard

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Candauda Arachchige Saliya ◽  
Suesh Kumar Pandey
Keyword(s):  
Climate Change ◽  
Financial Risk ◽  
Financial System ◽  
Regulatory Agencies ◽  
Theoretical Frameworks ◽  
Content Type ◽  
Banking Regulations ◽  
And Control ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to investigate how and to what extent the Fijian sustainable banking regulations or guidelines are designed, communicated, implemented and monitored within the financial system in Fiji. A scorecard is introduced for this purpose to assess the effectiveness of Fiji’s financial battle against climate change (FBACC). Design/methodology/approach This study uses a mixed-method methodology. Data were collected mainly from a survey and supplemented by interviews, observations and documents. The scorecard was developed by building on existing two theoretical frameworks, namely, the Sustainable Banking Assessment and Climate Change Governance Index, to make them more appropriate and practically applicable to less developed financial systems in emerging economies such as Fiji. This FBACC scorecard consists of four perspectives, eight critical factors and 24 criteria. Findings The results show that the overall FBACC score averages 40.75%, and all the perspectives scored below 50%, the benchmark. Only the CF “policy” scored 54.25% because of a high positive response of 82.3% for the “political leadership” criterion. The relative contributions of each perspective in constructing the overall score are distributed as 28%, 25%, 24% and 23% among planning, action, accountability and control, respectively. Research limitations/implications These results were complemented by the information shared during the interviews and confirmed that the existing political initiatives need to be effectively communicated and/or implemented in the financial system by the regulatory agencies. Practical implications This FBACC scorecard can be applied to other underdeveloped systems in emerging countries to assess the effectiveness of the sustainable banking regulations and/or guidelines in those countries in relation to the FBACC. It can also be applied to individual firms to assess their contribution to the FBACC. Originality/value To the authors’ best knowledge, this might be the first study in Fiji that considers the impact of climate-related financial risk on the Fijian financial system.

scholarly journals Financial system and growth and economic development

VUZF Review ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 160-170
Author(s):  
Małgorzata Hala
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Financial Institutions ◽  
Financial System ◽  
Financial Sector ◽  
Real Sector ◽  
The Real ◽  
State And Local ◽  
The Impact

The aim of the article is to present the role of the financial system in economic growth and development. The first part presents the traditional understanding of the relationship between the economic system and economic growth. The second part presents the experience of financial crises and their impact on the conversation on the mutual relations between the financial sector and the real sector. The third part shows the role of the state in the financial system. The article describes the arrangement of interrelated financial institutions, financial markets and elements of the financial system infrastructure.  It shows what part of the economic system the financial system is, and whether it enables the provision of services allowing the circulation of purchasing power throughout the economy. The article presents the important role of the financial system, the role related to the transfer of capital from entities with savings to entities that need capital for investments. It shows the financial system as a set of logically related organizational forms, legal acts, financial institutions and other elements enabling entities to establish financial relations in the real sector and the financial sector, and this system forms the basis of activity for entities using money, enabling the conclusion of various economic transactions, in which money performs various functions. The article also presents the concept of a financial crisis as a situation in which there are rapid changes in the financial market, usually associated with insufficient liquidity or insolvency of banks or financial institutions, and as a result, a decrease in production or its deepening. The article also includes issues related to the impact of public authorities (state and local authorities) on the financial system in the economy.

scholarly journals The impact of regulation governance on financial system efficiency: The importance of consumer behavior

2021 ◽  
Vol 11 (1) ◽  
pp. 80-93
Author(s):  
Alessandra von Borowski Dodl
Keyword(s):  
Financial Services ◽  
Institutional Economics ◽  
Financial System ◽  
New Institutional Economics ◽  
System Efficiency ◽  
Life Plans ◽  
Governance Effectiveness ◽  
Instrumental Values ◽  
The Impact ◽  
Theoretical Apparatus

This study focuses on the value structure that correlates improvements in the financial services consumer’s decision-making quality with the development of their autonomy. The discussion is based on the concepts of ceremonial and instrumental values, according to Bush (1987). We anchor our analysis on the premise that there is still room for enhancing the results within the National Financial System – NFS – by broadening the scope of initiatives on financial services consumers’ education and protection (von Borowski Dodl, 2020). Strengthening this perspective, we emphasize the consumer’s role as an agent and the relevance of taking decisions according to their life plans. The analysis is undertaken through the institutional literature lens, considering both schools of thought: Original Institutional Economics (OIE) (drawing on Tauheed, 2013a, 2013b) and New Institutional Economics (NIE) (focusing on North, 1990). From the conjunction of the theoretical apparatus and the applied analysis, we propose a governance policy within the NFS aimed at increasing its efficiency. Effective communication between stakeholders and consumers’ participation in the structuring of institutions – by publicly evincing their political power – hold the potential for promoting governance effectiveness. Additionally, although the approach taken focuses on the NFS, the diagnosis process carried out in this study can be easily reproduced in other contexts.

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