"Banking Union’s impact on financial stability – holistic approach"

Spis treści

List of Acronyms 9

Introduction 11

Chapter 1. Financial stability and its safeguards 15

1.1. The definition of financial (in)stability in the literature 16

1.2. The financial safety net 19

1.3. Financial market supervision models 21

1.4. Micro- and macro-supervision models 24

1.5. Statutory and implied responsibilities of the central bank in terms of ensuring financial stability 26

1.5.1. The central bank’s involvement in financial market supervision 27

1.5.2. The central bank as a lender of last resort 30

1.6. The Basel Committee on Banking Supervision 31

Summary 36

Chapter 2. Creating a single EU financial market 39

2.1. Early steps towards financial market integration 40

2.2. EU regulations harmonising the financial markets until 2008 44

2.3. Early crisis response 51

2.4. Long-term solution proposals 53

2.5. Legislative changes – as of 2010 56

Summary 60

Chapter 3. The European Banking Union 63

3.1. The genesis of the banking union 64

3.2. The Single Supervisory Mechanism 66

3.3. The Single Resolution Mechanism 72

3.4. The European Deposit Insurance Scheme 79

Summary 83

4.1. Comparing research on the banking sector with the proposed method 85

Chapter 4. The impact of the banking union on the banking sector 85

4.2. Characteristics of the indicators selected for the study 88

4.2.1. Profitability indicators 90

4.2.2. Risk exposure indicators 92

4.2.3. Liquidity indicators 93

4.3. Constructing the synthetic indicator 94

4.4. The construction stages of the synthetic indicator 97

4.5. Study results 104

Summary 107

Conclusion 109

References 111

List of tables 131

List of figures 133