Changes in the european banking supervision after the financial crisis
Journal Title: Zarządzanie i Finanse - Year 2015, Vol 13, Issue 3
Abstract
The recent financial crisis had many consequences which influenced negatively the entire financial system. To the most severe there should be included: business failures of financial institutions, governmental interventions on the financial markets, decrease of the asset prices, loss of liquidity and solvency of financial institutions, the decline in GDP and the collapse in the world trade. For this reason, it was important to develop new, safer supervisory rules and standards on banks. Basel III has introduced changes in the scope of short- and long-term liquidity and CAR. A new European Union package CRDIV / CRR has been introduced. Recent discussions and considerations concern new solutions on the banking capital adequacy. These new solutions are called TLAC and MREL. TLAC envisages the introduction of additional precautionary requirements against the 30 largest banks which are to be considered most important from the perspective of systemic risk. These requirements have been called Adequacy of loss-absorbing capacity. The EBA also presented the standard of minimum requirement for own funds and eligible liabilities – MREL. It will not interfere with the introduction of the TLAC requirement . These two new standards should complement each other. Polish supervisory authorities also did not remain indifferent to the crisis and introduced a series of new solutions. The Financial Stability Committee has been created, the Banking Law, the Law on the NBP and the BGF have been amended, there have been introduced legislations from the European Union CRDIV / CRR package and a series of new recommendations. All of these solutions are supposed to cause the maintenance of the stability of the banking sector in Poland. It is also worth mentioning that there took place considerable organizational changes in the UK in the range of the execution of supervision in this country. FSA has been resolved and in its place there have been created two new offices of – PRA and FCA. Changes have been implemented for the better execution of super vision in this country and earlier capture of signals of crisis.
Authors and Affiliations
Dorota Kowalczyk
Keywords
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