Bacho Robert – (Ferenc Rákóczi II Transcarpathian Hungarian Institute)
The article concerns the study of the newest trends in the system of state financial market regulation in the countries of the European Union. The author analyzed the main achievements of prominent foreign scientists concerning the evaluation of advantages and disadvantages of creation of an integral model for controlling financial service markets. Active state control systems in the EU countries have been compared. It is proven that for the period of 2008–2013 the number of countries the banks of which are charged with functions of microprudential regulation increased.
Highlights:
► the Hungarian legislation doesn’t determine any legal macroprudential oversight authority or persons responsible for the state control over system risks
► macroprudential responsibility has now passed to the national banks, which, in most cases, also called for the respective macroprudential powers so that the banks can synchronize the micro– and macroprudential policies
► crises in the European Union’s financial markets became challenge to its entire state regulation system
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