| Abstract [eng] |
Doctoral dissertation performs research of international standards, the EU bank recovery and resolution legal framework origins, objectives and implementations issues. Due to rapid development and complexity of the EU bank recovery and resolution legal framework, its origins, link with other financial safety-net elements and interlink with the international standards is not always properly understood. Furthermore, the content of the legal provisions is not straightforward, and in practice, the role and content of legal resolution objectives, which are essential for consistent implementation, are neither properly understood nor researched. Moreover, we live in an age where everything seems to happen at a faster and faster speed, and the role of financial technologies (FinTech) for banking business is increasing. This also raises questions concerning opportunities and challenges for the implementation of the EU bank recovery and resolution legal framework objectives in the era of FinTech. In summary, the relevance of this research is defined by i) the significance of legal institute being studied, it's novelty and growing perception of the importance of the EU bank recovery and resolution paradigm as an instrument to ensure the continuity of bank's critical functions; ii) implementation challenges due to lack of understanding of the EU bank recovery and resolution legal framework provisions and in particular its legal objectives; and iii) normative character of this research. These aspects substantiate the problem of this research: i) complexity of the bank recovery and resolution phenomenon due to its interlink with the international standards, company law, insolvency law, prudential supervision legal framework, state aid legal framework, deposit guarantee schemes legal framework, competition law, and interdisciplinary links, for example, with economic; ii) lack of understanding how this legal framework fits within the EU and national legal frameworks establishing other financial-safety net elements; iii) implementation challenges and issues arising when trying to determine the link between the EU bank recovery and resolution statutory framework provisions and it's legal objectives; and iv) complexity of creation of proper legal regulation due to changing banking business models, partnership with FinTech firms, and evolution of financial markets. |
