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Banking union - the way to the stronger financial system

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  • Tomáš Šťastný

Abstract

The aim of this article is to describe the banking union and its importance for the EU, its pillars, and principles on which it is based, its goal and contribution to the stronger financial system in Europe. We focus especially on the supervision system in the EU and possibilities of financing and managing crisis situations in the European financial system. The banking union joined with CRD IV brings tools and way of crisis avoiding, of better banking monitoring and of market events prediction. The European Commission did not finish its work only with prevention and supervision. The EC brings a complex system for crisis scenario management, clear rules and procedures for bank saving in all member states. It limits in the future the unlimited government support for banks via bailout tools that caused big crashes and uncertainty to the financial system.

Suggested Citation

  • Tomáš Šťastný, 2013. "Banking union - the way to the stronger financial system," Ekonomika a Management, Prague University of Economics and Business, vol. 2013(3), pages 74-83.
    • Handle: RePEc:prg:jnleam:v:2013:y:2013:i:3:id:207:p:74-83
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    References listed on IDEAS

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    1. Hennie Van Greuning & Sonja Brajovic Bratanovic, 2003. "Analyzing and Managing Banking Risk : A Framework for Assessing Corporate Governance and Financial Risk Management, Second Edition," World Bank Publications - Books, The World Bank Group, number 14949, December.
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    More about this item

    Keywords

    Regulation; Banking union; Supervisory power; Deposit Guarantee; Single rulebook; Regulácia; Banková únia; Orgán dohľadu; Poistenie vkladov; Single rulebook;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • K2 - Law and Economics - - Regulation and Business Law
    • K3 - Law and Economics - - Other Substantive Areas of Law
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior

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