Akademik Məlumat İdarəetmə Sistemi
Features and trends of socio-economic development in global and local dimensions, Leipzig, Germany, 21 - 22 October 2022, vol.196, pp.159-163, (Full Text)
The stability of financial markets is ensured in the process of regulating the activities of financial and credit institutions and supervision over them. To this end, both at the global and local levels, regulations are adopted that regulate the work of banks and establish certain boundaries of their behavior, contributing to the reliable and effective functioning of the banking system. The goals, objectives and functions of banking regulation are presented in Table 1. The goals and tasks arising from them to regulate activities in the banking sector are due to the establishment of special rules through the formation and systematic updating of the relevant regulatory framework. 2. Different countries have developed their own approaches to the organization of banking regulation and supervision, which depend on the structure of the national financial system and are determined by a set of factors, the diversity of which gives each of them a unique national specificity. The world has developed several alternative systems of financial market regulation and supervision, differentiated by the degree and nature of central banks’ participation in this process. One of them involves the concentration of regulatory powers in the central bank, the second involves the presence of an independent special body in close connection with the central bank and the Ministry of Finance, the third model of regulation is that regulatory and supervisory functions are carried out by supranational EU supervisory bodies–the European Systemic Risk Board and the Joint Committee of European Supervisory Authorities, and the fourth model provides for the creation of a megaregulator.