Банковият надзор в условията на глобална финансова криза – развитие и предизвикателства
Banking Supervision in the Context of the Global Financial Crisis - Development and Challenges

Author(s): Elena Stavrova
Subject(s): Economy, National Economy, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Bulgaria; Banking Sector; Banking Supervision; Banking Regulation; Central Banks; Systemically important financial institution
Summary/Abstract: The Bulgarian banking sector operates in an environment that combines the association with the economic and monetary union of the EU, the liberalization of global financial markets, a dynamically developing labour market, rising energy and food prices and the evolution of information technology in the sector. The internationalization of the banking industry challenges its traditional banking supervision and the interaction between central banks and supervisory bodies to improve the control over cross-border financial institutions in the area of compliance with the basic rules for conducting banking business. Reaching an international consensus among supervisory bodies on the objectives addressing the future regulatory measures to reduce gaps and strengthen the preventive measures in two main areas (the liquidity control and the behaviour of the systemically important financial institutions) – this is the new paradigm of international infrastructure for banking supervision with the sole purpose of sustainable behaviour of the banking sector in conditions of fluctuations and shocks. The impact of the global financial crisis, and hence the scope of corrective action by regulatory regimes, is country-specific and is determined by the level of development of the financial sector, the degree of leverage and the quality of supervisory action. An analysis of these problems in the context of the state of the banking sector of the Republic of Bulgaria is conducted in the context of this study.

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