THE PROCESSES OF CONSOLIDATION AND CONCENTRATION OF CAPITALAS IMPORTANT DETERMINANTS OF ECONOMIC GLOBALIZATION PROCESSES AFFECTING THE ECONOMIC DEVELOPMENT OF THE BANKING SYSTEM IN POLAND

2018 ◽  
Vol 4 (2) ◽  
pp. 217-244
Author(s):  
Dariusz Prokopowicz
Keyword(s):  
European Union ◽  
Banking Sector ◽  
Banking System ◽  
Financial System ◽  
Developed Countries ◽  
Central Banking ◽  
The European Union ◽  
Market Structures ◽  
System Functioning ◽  
Internal Procedures

The systemic transformation and socio-economic, which was initiated in Poland since 1989, are related with the intensified globalization processes that take place in various economic and social spheres of economy, including banking. Financial institutions as well as commercial banks are the entities which are not only subjects to theglobalization processes, they co-create these processes. The key attributes of globalization include deregulation processes, digitalization and internationalization, ie. global determinants, which were correlated with the adaptation of the financial system functioning in Poland to the European Union standards. To adjust internal procedures, product offerings and techniques of ICT operating in Poland banking to EU standards one has to consider the processes of consolidation and concentration of capital. These processes are applied in the commercial dimension of the financial system, including the banking sector since the mid-90s. Financial systemthat currently exists in Poland and includes the banking sector is among the best adapted to the EU standards. It is simultaneously one of the most globalized sectors of the economy. The key date for this issue concerns the year 2004, when Poland entered the European Union market structures. Currently, it is assumed that the process of globalization of financial markets and the banking system in Poland, apart from the consolidation processes and adjustments has been determined by such factors as administrative and supervisory goals of the central banking and supervisory bodies in the financial system and adjusting banking norms of law to the standards of Western highly developed countries.

ADMINISTRATIVE, LEGAL AND SUPERVISORY DETERMINANTS OF GLOBALIZATION OF FINANCIAL MARKETS AND THE BANKING SYSTEM IN POLAND

2015 ◽  
Vol 2 (2) ◽  
pp. 0-0 ◽  
Author(s):  
Sylwia Gwoździewicz ◽  
Dariusz Prokopowicz
Keyword(s):  
Financial Markets ◽  
Banking Sector ◽  
Banking System ◽  
Financial System ◽  
Developed Countries ◽  
Central Banking ◽  
The European Union ◽  
Legal Norms ◽  
Recent Financial Crisis ◽  
Polish Economy

Since the early 90s of the last century, the growing importance of globalization processes in Poland, executing in the field of socio-economic and cultural unification of the community has been observed. Due to the ongoing process of the transformation of the Polish economy, this process was also determined successively increasing integration of financial markets and the development of ICT. Currently operating in Poland, the financial system and the banking sector is one of the most globalized sectors of the economy. This process has been intensified Polish accession to the European Union in 2004. High scale of financial markets globalization in Poland was visualized during the recent financial crisis 2008 years. The process of globalization of financial markets and the banking system in Poland is determined mainly by factors such as administrative and supervisory functions of central banking and supervisory bodies in the financial system and to adapt legal norms to the standards of Western developed countries.

THE IMPORTANCE OF ECONOMIC GLOBALIZATION IN THE CONTEXT OF THE DEVELOPMENT OF THE FINANCIAL SYSTEM IN POLAND

2016 ◽  
Vol 4 (2) ◽  
pp. 7-17
Author(s):  
Dariusz Prokopowicz
Keyword(s):  
Financial Markets ◽  
Banking Sector ◽  
Banking System ◽  
Financial System ◽  
Developed Countries ◽  
Central Banking ◽  
The European Union ◽  
Global Integration ◽  
Wide Range ◽  
Recent Financial Crisis

At the beginning of the 90s of the last century in connection with the ongoing process of the transformation and marketization of the economy observed in Poland growing importance of globalization processes executing within the scope of this multifaceted socio-economic and cultural unification of standards of existence of citizens. With adjusting to the time urynkawianiem and systemic transformation of the Polish economy were related to the processes of global integration of financial markets and the development of ICT. Operating in Poland for more than a quarter of the market financial system and the banking sector is among the most globalized and computerized sectors of the economy. This process was intensified Polish accession to the European Union in 2004. Zglobalizowania a wide range of financial markets in Poland was shown during the recent financial crisis 2008 years. Currently, it is assumed that the process of globalization of financial markets and the banking system in Poland is, first of all such determinants as administrative and supervisory functions of central banking and supervisory bodies in the financial system and adjusting norms of law to the standards of Western developed countries including the regulations, recommendations and EU recommendations.

scholarly journals The Impact of the European Integration Process on the Banking System – an Overview

2010 ◽  
Author(s):  
Bogdan Ilut
Keyword(s):  
European Union ◽  
European Integration ◽  
Banking Sector ◽  
Banking System ◽  
Main Channel ◽  
The European Union ◽  
Integration Process ◽  
Fully Integrated ◽  
Is Integration ◽  
The Impact

<p>In the last decade the European integration process was the main focuses of the European Union, as its completion could bring a huge step toward a fully integrated European Union. As the banking sector is the main channel for funding of the European economy, it has become now more clearly than ever that is integration is of the up more essence. The aim of this paper is to quantify the progresses registered by the main European Union’s economies in the process of banking integration, as their example is generally followed by the other member states. First we underline the necessity of the European integration and the progress made using an extended literature review doublet by an analysis of the main indicators for the banking systems of these countries. We also present, in a non-exhaustive way, the main trends that have characterised the banking sectors of these countries in the last decade: diversification, vertical product differential and consolidation underlying their impact on the sectors architecture.</p>

scholarly journals Appraisal of Financial Situation of the Polish Banking Sector from 2008 to 2012

Management ◽  
2013 ◽  
Vol 17 (2) ◽  
pp. 177-189
Author(s):  
Paweł Trippner
Keyword(s):  
Economic Development ◽  
Financial Markets ◽  
Financial Institutions ◽  
Banking Sector ◽  
Banking System ◽  
Financial System ◽  
The European Union ◽  
Financial Situation ◽  
Financial Condition ◽  
European Union Countries

Summary Appraisal of Financial Situation of the Polish Banking Sector from 2008 to 2012 The banking system is a very important element of the financial system of a country. As institutions of public trust, banks play a crucial role in the process of transforming savings into investments, which directly affects the country’s economic development. Maintaining the banking sector in a good financial condition guarantees stability of the financial system and economic development of Poland. The article aims to present the essence of operations of banks as financial institutions, present their role in the economy, and describe various methods of appraising their financial condition. In order to fulfil the above goals, a research hypothesis is put forward stating that the financial condition of the banking sector in Poland deteriorated in the analysed period as a result of an adverse impact of turbulence in financial markets and problems in banking sectors in the European Union countries.

scholarly journals The Growing Importance of the Financial Sector in the Founding Countries of the European Union

2021 ◽  
Vol 2 (26) ◽  
pp. 37-49
Author(s):  
Tomasz Florczak
Keyword(s):  
European Union ◽  
Economic Development ◽  
United Kingdom ◽  
Financial Crisis ◽  
21St Century ◽  
Banking Sector ◽  
Financial Sector ◽  
Developed Countries ◽  
The Other ◽  
The European Union

The economies of the 21st century countries operate on the principle of connected vessels. A significant element of changes in economies is the growth of the financial sector. The process of financial sector growth is often referred as financialization. The significant impact of this sector on economic development was shown during the financial crisis of 2008. Financialization is more visible in highly developed countries. Undoubtedly the founding countries of the European Union belong to highly developed countries. It is possible that the financialization is higher in bigger countries like France, Germany, Italy or United Kingdom, which can also have bigger financial sectors. From the other side there is also country, which economy is based on banks. The aim of the article is to indicate the growth of the financial sector in the founding countries of the European Union. To determine the growth of the financial sector, the author used the indicators appearing in the literature of subject. There are indicators relating to functioning of the economy and banking sector. The second method helps to determine in which country financialization is higher. To made the research there was used zero unitarization method. The results of the study allows to determine in which of the subjects the financial sector is at a higher level of development. It is possible, that during researched period there were changes in financializiation of researched countries.

scholarly journals Contradictory tendencies in banking systems of the Slovak Republic and the Russian Federation

2017 ◽  
Vol 1 (2) ◽  
pp. 108-118
Author(s):  
Simona Heseková
Keyword(s):  
European Union ◽  
Russian Federation ◽  
Banking Sector ◽  
Foreign Capital ◽  
Slovak Republic ◽  
Banking System ◽  
The European Union ◽  
European Union Law ◽  
Banking Systems ◽  
The Russian Federation

The paper analyzes the banking systems of the Slovak Republic under the influence of the European Union legislation and banking system of the Russian Federation from the perspective of opening the banking sector to foreign capital. A fundamental difference between the given legislations, which is reflected mainly in the recent period, lies in the degree of openness of the banking system to foreign capital. While the banking system of the Slovak Republic under the influence of the European Union law can be considered as highly open banking system to foreign capital, the legislation concerning the Russian banking system is characteristic by legal limitation for foreign capital entry. The analysis of these contradictory tendencies which have common goal – to ensure a stable banking system could bring important knowledge that may help in resolving the issue of stability of the banking system at the global level.

scholarly journals BASEL III LIQUIDITY RISK AND KOSOVO BANKING SYSTEM

2019 ◽  
Vol 34 (5) ◽  
pp. 1329-1335
Author(s):  
Hysen Lajqi
Keyword(s):  
European Union ◽  
Banking Sector ◽  
Financial System ◽  
Liquidity Risk ◽  
Capital Requirements ◽  
Basel Iii ◽  
Bank Capital ◽  
The European Union ◽  
Coverage Ratio ◽  
Basel Committee

The financial crisis 2007-2009 prompted the Basel Committee on Banking Supervision (BCBS) to intensify its efforts to strengthen the principles and standards for capital, as well as for the measurement and management of liquidity risk. Risk management is very important in the financial system, especially in banks. Among various risks Banks face is a liquidity risk it’s managing enables Banks to fulfil their obligationsBasel III consists of set of measures internally agreed. The implementation of Basel III will considerably increase the quality of banks' capital and significantly raise the required level of their capital. In addition, it will provide a "macro prudential overlay" to better deal with systemic risk.Like all Basel Committee standards, Basel III standards are minimum requirements which apply to internationally active banks. Members are committed to implementing and applying standards in their jurisdictions within the time frame established by the Committee.To ensure that banks have sufficient liquidity to survive potential liquidity shocks, as happened few years ago, the Basel Committee has issued two new globally revised minimum standards under the Basel III rules for the first time in the banking history: LCR – Liquidity Coverage Ratio and NSFR – Net Stable Funding Ratio that contain new requirements for bank capital, as well as standardized rules in the liquidity area.Banks need to fully comply with LCR and NSFR rules by January 1, 2019, according to the Capital Requirements Directive & Capital Requirements Regulation (CRD IV & CRR) rules.Basel III rules, in the European Union attain their applicable judicial form through REGULATION (EU) No 575/2013. The regulatory package is due to enter into force on January 1st, 2014, but some provisions will be implemented gradually between 2014 and 2019 and will fully come into force on January 1st, 2019. But these rules are likely to undergo some revisions due to a proposal by European Union (EU), so implementation horizon could go being beyond 2019.Performance of the Kosovo banking sector continued to be positive, thus contributing in maintaining the financial and economic stability of the country. Kosovo’s financial system continues to be characterized with sustainable increase in all its constituent sectors. The banking sector in Kosovo as most successful story is developed by many international institutions, characterized by a large presence of foreign capital, where 89. 2% of all assets are managed by foreign banks and development is based on international standards.Banking sector continued to have good liquidity position, with the main liquidity indicators standing above the minimal level as a required by the regulation.The implementation of Basel III rules in Kosovo related to liquidity depends on the local regulator and Basel III standards.

scholarly journals ANALYSIS OF THE DYNAMICS OF THE EUROPEAN BANKING SYSTEM

2020 ◽  
Vol 6 (4) ◽  
pp. 156-167
Author(s):  
Marianna Stehnei ◽  
Maryna Korol
Keyword(s):  
European Union ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Banking System ◽  
The United States ◽  
Practical Significance ◽  
Positive Trend ◽  
The European Union ◽  
European Banking ◽  
European Banks

Relevance of research. Existence of global financial crises points to the fact that in the world there is no perfect banking system and therefore the efficiency of the banking system requires a detailed study, including major performance indicators. The aim of the study is to summarize and characterize the existing trends of banking system evolution in the European Union. Methodological basis of the study – is based on the analysis of the study of the dynamics of such indicators as the number of banking institutions, the volume of assets and liabilities, asset quality, as well as the profitability of the banking sector of the European Union. A systematic analysis of the quantitative and qualitative composition of the above-mentioned banking indicators, synthesis and generalization were used to generalize and formulate conclusions. Scientific results. This article is devoted to the study of the dynamics of the main indicators of the European banking system during the period from 2000 to 2019 inclusive. It is argued that the number of commercial banks has decreased over the last decade, including in the European Union. Bank branches are no exception, the negative dynamics of the number of which was followed by the global financial crisis of 2008-2009. At the same time, it was found that the volume of bank assets shows a positive trend. Regarding the geographical distribution of assets, in 2019 the leading position was taken by France, Germany, Italy and Spain. At the same time, the volumes of liabilities of the financial sector of the European Union for the studied period also show a positive trend. The structure of loans is characterized and it is emphasized that the vast majority of loans are issued to non-financial corporations and households, which is an evidence of the business orientation of banks to provide loans to the real sector of the economy. It has been established that one of the key problems facing European banks is profitability, which today still could be on a better level than in 2007, the year of the financial surge. This situation distances European banks from competitors in the United States, which have shown positive dynamics of their profits. However, it is encouraging that the quality of assets of the European Union banks has significantly improved over the last 4 years. The practical significance of the study is to rate the strengths and weaknesses of the European banking system. Significance/originality. The results achieved from an integrated view of the functioning of the banking system of the European Union, which will allow the authors to further build a model for verifying the stability of the banking system.

CONDITIONS FOR INTRODUCING A BANKING TAX IN POLAND

2017 ◽  
Vol 2 (2) ◽  
pp. 135-160
Author(s):  
Dariusz Prokopowicz
Keyword(s):  
European Union ◽  
Commercial Banks ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Banking System ◽  
Legislative Process ◽  
Legal Regulations ◽  
The European Union ◽  
Standards And Guidelines ◽  
The Global Financial Crisis

This article describes the main determining factors of the implementation of a bank tax in commercial banks that run their activities in Poland. It also considers the importance of legal regulations of the rules for collecting this tax. The global financial crisis of 2008 was an important factor that has stimulated the processes of improving legal regulations concerning banks. Weakening economic situation and higher risk caused the need to improve procedures and banking legal regulations of the financial transactions safety in Poland. Improvement of banking system financial procedures is correlated with gradually progressing globalization but also with anti-crisis socio-economic policy in Poland. Therefore, the level of adaptation of legal procedures and norms regarding commercial banks in Poland to the European Union standards and guidelines of the Basel Committee is continuously improving. One of the specific aspects of these adjustment processes was the introduction of a bank tax, which operates in most European Union countries. The introduction of this tax could be one of the factors determining the sale of subsidiary companies, i.e. banks that are controlled in Poland by foreign financial institutions. Therefore this can be an important factor, which would accelerate the process of repolonization of the banking sector in Poland. The economically effective introduction of a bank tax depends among other things on efficient legislative process.

Development of European Union and joining perspective of Croatia

2007 ◽  
Vol 13 (2) ◽  
pp. 507-514
Author(s):  
Ivan Vuković
Keyword(s):  
European Union ◽  
Monetary Policy ◽  
Security Policy ◽  
Technological Development ◽  
Developed Countries ◽  
European Countries ◽  
The European Union ◽  
Demographic Development ◽  
The World ◽  
The Eu

In this paper we researched European Union starting with the Agreement from Maastrich from year 1992, even though the European Union has a long traditional history and its origin is founded on regulations of economical integrations in Europe beginning from the 1950’s through the Roman treaty from year 1957 and the forming of the European Union Committee in year 1965. Further we follow her expansion and introduction of the European economic and monetary policy, to last, the joining perspective of Croatia. According to the Agreement from Maastrich, European Union lies on three posts: 1) Legal-political and regulative post, 2) Economical post, where the forming of European economical and monetary policy is in the first plan, especially the introducing of Euro as the unique European currency, 3) Post of Mutual foreign security policy within European Union. In that context we need to highlight the research conducted here and in European Union, including the world, regarding development of European Union and its economical, legal, political and cultural, as well as foreign diplomatic results, which are all perspectives of European Union. All the scientists and researches which were involved in exploring the development of EU with its modern tendencies and development perspective, agree that extraordinary results are achieved regards to economical, legal, political, foreign-security and diplomatic views, even tough many repercussions exist in progress of some particular members and within the EU as a whole. The biggest controversy arises in the perspective and expanding of European Union regarding ratification of the Constitution of EU from particular country members, but especially after the referendum was refused from two European countries, France and Netherlands. According to some estimates, the Constitution of EU would have difficulty to be adopted in Switzerland and some other Scandinavian countries, but also in Great Britain and other very developed countries. However the European Community and European Union were developing and expanding towards third European countries, regardless of Constitutional non-existence, where we can assume that if and when the Constitution of EU will be ratified, the EU will further develop as one of the most modern communities. This will enable economical development, especially development of European business, unique European market and free trade of goods and services, market of financial capital and labour market in free movement of labour. Being that EU has become one of the most largest dominating markets in the world, it offers a possibility to all new members to divide labour by using modern knowledge and high technology which insure economical, social and political prosperity. This results to forming a society of European countries which will guarantee all rights and freedom of development for all nations and ethnic groups. As well as, all European countries with somewhat less sovereignty, but in international relations will be stronger and significant, not only in sense of economics, but also in politics and military diplomatic relations. Therefore, Croatia has no choice and perspective if she does not join the European Union till year 2010, but until than it needs to create its strategy of economical and scientific-technological development, including demographic development, which will insure equal progress of Croatia as an equal member of European Union.

Sign in / Sign up

Export Citation Format

Share Document