TRANSFORMATION OF EUROPEAN FINANCIAL MARKETS IN THE CONTEXT OF TURBO-REALITY

The geopolitical uncertainty caused by Russia's war in Ukraine, the deteriorating economic situation, and the tightening of monetary policy have affected the European financial sector. This has led to an increase in interest income earned by financial institutions, but also to renewed caution in asset prices, especially in credit portfolios of credit institutions, and to the emergence of vulnerabilities in the non-bank financial sector due to potential market corrections. The recent stress that followed the collapse of a Silicon Valley bank and the takeover of Crédit Suisse added to the market pressure on the European financial sector. Nevertheless, European banks are generally in a very strong position when it comes to capital and liquidity. The article discusses the main indicators presented in the Global Banking Annual Review 2022 and the results of scientific research on the current state of the financial market and monetary policy in Europe as a result of the Russian-Ukrainian war. The author analyzes the financial policy directions in the period before the Russian invasion of Ukraine with the period of direct aggression of the Russian Federation. The financial risks that European banks experienced during 2022 are identified, namely: macroeconomic crisis, asset value crisis, energy and food crisis, supply chain crisis and talent crisis. The factors that influenced the banks' activities in 2022 were also identified, namely: geography, specialization, customer segmentation, and scale. The practical value of the work lies in the fact that a conceptual model of the strategic development of the European financial market has been formed in the context of the stabilization processes of international financial policy, as well as food and energy security. Arguments are presented in favor of the concept of strategic autonomy based on increasing the EU's resilience in specific strategic sectors.