Regulacija bančništva v senci v EU in ZDA

diplomsko delo

Denis Prah (Author), Janja Hojnik (Mentor)

Abstract

Mediji so površno označili trg drugorazrednih hipotekarnih posojil kot krivca za nastalo krizo. Bančništvo v senci lahko označimo za epicenter finančne krize. Termin bančništvo v senci se nanaša na institucije brez bančne licence, ki opravljajo podobne funkcije kot banke, a v manj reguliranem okolju. Bančništvo v senci bi morda lahko označili za »igro«, ki se odvija v senci reguliranega tradicionalnega bančništva. Bančništvo v senci je doživelo pravi razcvet tik pred krizo. Banke in druge institucije so kovale ogromne dobičke skozi proces, imenovan listinjenje. Banke tradicionalno refinancirajo posojila z depoziti ali medbančnim izposojanjem, bančništvo v senci pa refinancira vrednostne papirje, zavarovane z raznimi posojili, s kvazi depoziti, kot so deleži skladov denarnega trga. Finančni vzvod je v senčnem bančništvu precej višji kot v tradicionalnem bančništvu, kar povzroča večjo nestabilnost bančnega sistema v senci. Bančništvo v senci je pravzaprav pravi bančni sistem, ki je dovzeten za bančno paniko. Dogodki v začetku avgusta 2007 so bili bančna panika. Začetni »tek« na institucije bančništva v senci se je nato razširil na celoten finančni sektor. Med klasičnim bančništvom in bančništvom v senci je zelo tanka meja. ZDA in EU sta z namenom preprečitve podobne krize sprejeli novo zakonodajo, ki popolnoma reformira finančni sektor. Za primer, ameriški Dodd-Frankov zakon obsega več kot 2000 strani. Na začetku naloge zaradi lažjega razumevanja na kratko predstavljam vzroke, ki so pripeljali do finančne krize. Bistvo naloge pa je opis zakonodaje, sprejete v ZDA in EU. Nalogo zaključujem z oceno, ali so sprejete reforme zadostne za preprečitev podobne krize.

Keywords

bančništvo;bančništvo v senci;listinjenje;posli povratne prodaje;izvedeni finačni instrumenti na prostem trgu;hedge skladi;Dodd-Frankov zakon;Direktiva o upravljavcih alternativnih investicijskih skladov;Uredba o evropski tržni infrastrukturi;Direktiva o trgih finančnih instrumentov II;diplomska dela;

Data

Language:	Slovenian
Year of publishing:	2015
Typology:	2.11 - Undergraduate Thesis
Organization:	UM PF - Faculty of Law
Publisher:	[D. Prah]
UDC:	339.923:061.1EU(043.2)
COBISS:	4916267
Views:	1929
Downloads:	266
Average score:	0 (0 votes)
Metadata:

Other data

Secondary language:	English
Secondary title:	REGULATION OF SHADOW BANKING IN EU AND USA
Secondary abstract:	The media superficially blamed US subprime mortgages for triggering the crisis. Shadow banking was the epicenter of the financial crisis. The term shadow banking refers to institutions without a banking license which perform similar functions as banks, but in less regulated environment. One may say shadow banking is a »game« which takes place in the shadow of regulated traditional banking. Shadow banking achieved full bloom just prior to crisis. Banks and other institutions made great profits through the process, called securitization. Traditionally, banks refinance their loans with deposits or interbank borrowing, whereas shadow banking refinances securities backed by loans with quasi-deposits such as money marekt funds shares. Leverage is much higher in the shadow banking than in traditional banking and that makes shadow banking system less stable. The shadow banking is, in fact, a real banking system and is vulnerable to a banking panic. Indeed, the events starting in August 2007 were a banking panic. Initial run on shadow banking institutions then spread like wildfire throughout the entire financial sector. There is a very thin line between traditional banking and shadow banking in practice. To prevent the ocurrence of another similar crisis, the US and EU adopted new regulations, which completely overhaul the financial sector. For example, Dodd-Frank Act is more than 2,000 pages long. There is a brief presentation of the factors that caused the financial crisis in the beginning of this work. The core of this work is, however, the description of regulations, adopted in US and EU in the area of shadow banking. I finish this work with my opinion whether this regulatory reform will prevent ocurrence of new crisis.
Secondary keywords:	shadow banking;securitisation;repo;otc derivatives;hedge funds;Dodd-Frank Act;AIFMD;EMIR;MiFID II;
URN:	URN:SI:UM:
Type (COBISS):	Undergraduate thesis
Thesis comment:	Univ. v Mariboru, Pravna fak.
Pages:	83 f.
ID:	8739093