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LEGAL FRAMEWORK OF THE BANKING SECURITY IN THE CONTEXT OF EUROPEAN INTEGRATION OF UKRAINE

Journal: International Journal of Management (IJM) (Vol.11, No. 6)

Publication Date:

Authors : ;

Page : 41-51

Keywords : Banking security; Banking activity; Adaptation of legislation; Eurointegration;

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Abstract

The article is devoted to the research of the banking security's, its main components and levels of development. The purpose of this work was to develop theoretical and methodological provisions on the legal principles of Ukrainian banking safety in the context of current European integration processes. Taking into account the formal division into the level of individual banking institutions, the level of the banking system and the macro level (the state), it is necessary to have a legal basis in case of negative factors' leveling up necessity. This is necessary in view of the fact that banking security is one of the main components of the national security of the state. The authors identified and systematized current problems of the Ukraine's banking system. It is determined that at the current stage of Ukraine's development, the priorities and interests of domestic representatives of the banking system and foreign banking structures do not always coincide. In particular, in the European Union countries, banks are primarily focused on addressing liquidity-related issues, including through the cessation of funding by foreign affiliates and subsidiaries, withdrawals from less developed countries. The priority task of the banking system of Ukraine is not only to preserve the stability of the banking sector, but also to expand lending to the real sector of the economy. The authors summarized the processes of current Ukrainian legislation's necessary adaptation to the requirements of the EU. The main problems that slow down the implementation of adaptation measures are systematized; specific issues that require harmonization with the norms of the EU Directives are identified. The conclusion about the need for constant public reporting by the responsible bodies on the current state of adaptation measures' implementation and taking into account the comments, recommendations and proposals of European institutions, conducting a thorough analysis of their content and possible consequences was made

Last modified: 2021-01-21 23:22:38