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Consolidating the Institutional Provision for the Regulatory and Supervisory Functions of Financial Institutions
Khoruzhyi S. G.

Khoruzhyi, Sergii G. (2019) “Consolidating the Institutional Provision for the Regulatory and Supervisory Functions of Financial Institutions.” Business Inform 3:337–342.
https://doi.org/10.32983/2222-4459-2019-3-337-342

Section: Finance, Money Circulation and Credit

UDC 336.7

Abstract:
The article is aimed at researching tendencies in the approaches to formation of institutional provision for the regulation and supervision over activities of financial institutions. The article sets out the objective reasons for emergence of the sectoral model, which are the different essence of financial services, establishing the basis of legal relations between the financial institution and the consumer of financial services. The author clarifies differences between the consolidated and integrated models, which are establishing responsibility for oversight of one or more supervisory bodies, respectively, as well as the availability of different methodologies of supervision, whether unified or integrated. Four models of the system of regulation and supervision over activities of financial institutions are classified according to the proposed criteria. Research of the transformation processes of the regulatory and supervisory systems regarding the activities of financial institutions allowed to summarize advantages and disadvantages of forming different models of the regulatory and supervisory systems.

Keywords: regulation, supervision, financial institutions, consolidation of regulation and supervision, regulatory and supervisory models, microprudential supervision, macroprudential supervision.

Tabl.: 1. Bibl.: 8.

Khoruzhyi Sergii G. – Candidate of Sciences (Economics), Candidate on Doctor Degree, University of Banking (1 Andrіivska Str., Kyiv, 04070, Ukraine)
Email: [email protected]

List of references in article

Calvo, D. et al. FSI Insights on policy implementation No 8. Financial supervisory architecture: what has changed after the crisis?. Financial Stability Institute. Bank for International Settlements, 2018.
Naumenkova, S. V., and Mishenko, V. I. Systemy rehuliuvannia rynkiv finansovykh posluh zarubizhnykh krain [Systems of regulation of financial services markets of foreign countries]. Kyiv: Tsentr naukovykh doslidzhen NBU; Universytet bankivskoi spravy NBU, 2010.
Yashchyshchak, O. R. “Modeli derzhavnoho rehuliuvannia rynku finansovykh posluh“ [Models of state regulation of the financial services market]. Advokat, no. 3 (2011): 28-33.
Hnatiuk, R. A. “Instytutsiinyi analiz mizhnarodnoho rynku tsinnykh paperiv“ [Institutional analysis of the international securities market]: dys. …kand. ekon. nauk : 08.00.01, 2016.
Kyzyma, H. M. “Modeli rehuliuvannia finansovykh rynkiv: sutnist ta osoblyvosti“ [Models of regulation of financial markets: the essence and features]. Derzhavne upravlinnia: udoskonalennia ta rozvytok. 2011. http://www.dy.nayka.com.ua/?op=1&z=369
The structure of Financial Supervision Approaches and Challenges in a Global Marketplace. Washington, DC: Group of Thirty, 2008.
Melecky, M., and Podpiera, A. “Institutional structures of financial sector supervision, their drivers and emerging benchmark model“. MPRA Paper (2012).
Kingdom of the Netherlands-Netherlands: Publication of Financial Sector Assessment Program Documentation - Technical Note on Financial Sector Supervision: The Twin Peaks Model. International Monetary Fund, 2011.

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