Nėra lietuvių kalba
- 30 March 2010
- LEGAL WORKING PAPER SERIES - No. 11The role of national central banks in banking supervision in selected central and eastern European countriesDetails
- Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Poland and Slovakia have recently undertaken substantial reforms of their supervisory frameworks, aimed at reducing the number of supervisory authorities operating in the domestic financial sector. This working paper examines from a legal perspective national central bank (NCB) involvement in banking supervision in the above-mentioned countries and, in the light of this comparative examination, draws conclusions about the nature and scope of that involvement. The analysis reveals that the trend towards consolidation of supervisory authorities is not always linked to a tendency to diminish or suspend NCB powers in the area of banking supervision: in three of the countries reviewed, the NCBs have sole competence for banking supervision, and in the Czech Republic and Slovakia, integrated supervision has even been placed under the NCB's roof. In the jurisdictions where the NCBs do not perform the supervisory function, the NCBs have nevertheless remained involved in supervision in many different ways, they have a substantial involvement in the preparation of legislation relating to supervision; they may influence the performance of the supervisory function by interaction with the supervisory authorities at the level of their decision-making bodies, through the conclusion of agreements, establishment of common bodies, etc.; and finally NCBs have also demonstrated some capacity to influence the operational side of banking supervision in the areas of licensing, on-going supervision and the imposition of sanctions or remedial measures in the case of breaches of supervisory law requirements. This working paper takes into account the legislation in force in the seven Member States under consideration as at 1 November 2009.
- JEL Code
- K : Law and Economics