FINANCIAL CRISIS OF CREDIT INSTITUTIONS IN THE EU LAW AND IN THE ROMANIAN LAW
Supp/2008 , p365..373
Author(s):
Laurentiu SORESCU
Keywords:
Crisis, financial, credit insitutions, EU law, comparative Romanian law
Abstract:
Financial crisis of credit institutions are very important for the proper functioning of financial markets. Any financial crisis of an important credit institution may lead to bank runs or to failures of financial markets. At present a financial crisis on the entire financial market develops as a result of the losses endured by banks as a result of operating with financial instruments based on subprime loans. Therefore, rules adequate for credit institution have been issued in the EU law by following the principles set by the Basel Committee on Banking Supervision. We will be interested in presenting the rules in force that should prevent the financial crisis of a credit institution in the EU and in Romania. This paper shall analyse the European Parliament and Council Directive 2001/24/EC on the reorganisation and winding-up of credit institutions and the way that this directive had been implemented in Romania law by the Ordinance no. 10 of 2004.
Download:
Back
|
|