Home Part 3 CONSIDERATIONS REGARDING THE REFORM OF THE EUROPEAN FINANCIAL SUPERVISION SYSTEM

 

CONSIDERATIONS REGARDING THE REFORM OF THE EUROPEAN FINANCIAL SUPERVISION SYSTEM

 

 

Persida Cechin Crista, Timeea Maria Dumescu

"Drăgan" European University of Lugoj, Faculty of Economic Sciences,

Ion Huniade Street, No. 2, Lugoj, Romania,

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Abstract

Financial stability has a crucial role in the financial system and in the economy as a whole, as shown by the current worldwide economic crisis. Therefore, in order to protect the financial system and to ensure financial stability, the identification of the main risk and vulnerability sources is of utmost importance. All involved parties, as well as financial institutions and supervision authorities need to be informed about the risks.

Banks, insurance companies and other financial institutions represent the first line of defence against financial crises. These institutions are responsible for maintaining their viability and solvency, as well as for checking the debtors’ credit worthiness and for managing the undertaken risks.

Keywords: financial stability, banking system, financial supervision, bridge bank.

Jel Classification: G21

 

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