THE REGULATORY FRAMEWORK OF THE EUROPEAN UNION AND THE BANKING SECTOR OF THE REPUBLIC OF SERBIA

Edisa Brničanin, Milos Pavlovic, Nemanja Gligorijević

DOI Number
10.22190/FULP1604587B
First page
587
Last page
597

Abstract


The process of transformation is inevitable in all areas of economic and social life, as well as in banking. Accordingly, the transformation process has not bypassed our country. The dynamics and pace of transformation depends on the level of development of the country and developments in the world economy and politics. In the last decade, the events in the global financial market, aimed at profit maximization at any price (without analysis and appreciation of the risks involved), led to the global economic crisis in late 2007. This is slowing down the process of transformation of the banking sector in Serbia, since it depends on the credit and development capacities of the clients and the overall socio-political situation in the country. Domestic banks are organized in a modern way, in compliance with the recommendations of the EU and the rules of the Basel agreement; they have electronic equipment and most professional staff. The strengthening of competition in the domestic market will deepen the differences between banks and provide space for consolidating the domestic banks through the process of mergers, acquisitions and privatization. Moreover, the aspects of faster capital strengthening, which carry other advantages of the organizational, technical and technological nature, may faciliate cost-effective operations and more efficient use of resources.

Keywords

Serbia, European Union, banking sector, banks, transformation, transition

Full Text:

PDF

References


Allen, F., Carletti, E. (2008). The Roles of Banks in Financial Systems. University of Pennsylvania and University of Frankfurt and CFS.

BCBS, (2001). The New Basel Capital Accord, Basel Committee on Banking Supervision, Basel.

BCBS, (2009). History of the Basel Committee and its Membership, Basel Committee on Banking Supervision, Basel.

Chang, M. (2009). Monetary integration in the European Union, Palgrave Macmillan, New York.

Franklin, A., Gale, D. (2007). Understanding Financial Crises, Oxford University Press, New York

Kidwell S. D., Blackwell W. D., Whidbee A. D., Peterson L. R., (2008). Financial Institutions, Markets and Money, John Wiley & Sons, 10th Edition

Mülbert P., O., Wilhelm A., (2011). Reforms of EU Banking and Securities Regulation after the Financial Crisis, Banking & Finance Law Review, 26(2011), 187-232.

Schmidt R. H., Kern A., Benink H., Lastra R. & Wihlborg C., (2011). ‘The Recent Financial Crisis: Lessons from Europe’, in Litan R. (ed.), WORLD IN CRISIS: Insights from Six Shadow Financial Regulatory Committees from Around the World, FIC press, pp. 125-193.

Talani, L. S. (2009) The Future of EU, Palgrave Macmillan, New York

Djurovic-Todorovic J., Djordjevic M., Siljkovic B., (2010), Monetary policy of the European central bank and National bank of Serbia in function of stabilisation of economy in the conditions of global financial crisis, Thematic Proceedings of Economic Policy of Serbia in 2010 – towards a new model of macroeconomic stability, NDES and the Faculty of Economics in Belgrade.

Narodna banka Srbije (National Bank of Serbia); www.nbs.rs

Udruženje banaka Srbije (Association of Serbian Banks); www.ubs-asb.com

The G20 website; www.g20.org




DOI: https://doi.org/10.22190/FULP1604587B

Refbacks

  • There are currently no refbacks.


ISSN 1450-5517 (Print)
ISSN 2406-1786 (Online)