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ORIGINAL ARTICLE
THE REFORM OF FINANCIAL SAFETY SYSTEM OF BANKS IN EUROPE
 
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Pope John Paul II State School of Higher Education in Biała Podlaska Państwowa Szkoła Wyższa im. Papieża Jana Pawła II w Białej Podlaskiej
CORRESPONDING AUTHOR
Tomasz Adamowicz   

mgr Tomasz Adamowicz, Pope John Paul II State School of Higher Education in Biała Podlaska, The Department of Economic Sciences and Engineering, The Chair of Economy and Management, ul. Sidorska 95/97, 21-500 Biała Podlaska, Poland, phone: +48 83 344-99-07
Publication date: 2018-07-09
 
Economic and Regional Studies 2015;8(4):56–72
 
KEYWORDS
ABSTRACT
The purpose of this study is to introduce an outline of possible solutions aimed at a change of financial safety systems in European financial institutions caused by financial crisis that began at the end of the first decade of this century. The first section of the study presents the pre-crisis condition of supervisory institutions and prudential regulations in the European financial sector. The merits of work focuses on characteristics of new regulatory and legal solutions, which were implemented in the last 5 years in order to improve the safety of financial system on the common mark et. Documents posted on the European institutions’ websites were the main sources used in this study. This work also includes literature on the subject which is still, due to the short time of functioning, not very numerous. Having taken new regulations and multiplicity of appointed institutions into account, the reform of safety system is doubtlessly a large undertaking. While some regulations have already begun to affect financial sector directly, the institutions’ effectiveness should not be yet evaluated because of a short-term of their activity.
 
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