Economic Themes (2015) 53 (2) 1, 142-161
Mirjana Jemović, Borko Krstić
Abstract: The Republic of Serbia has successfully completed the first stage in the process of accession to the European Union, obtaining the candidate status for membership in the European Union (EU). Currently in progress is the phase of accession negotiations, which implies full harmonization with the EU acquis, with the screening process conducted in 35 thematic chapters. The global financial crisis that has hit our country in 2008 required a timely reaction of the National Bank of Serbia (NBS) in order to preserve the stability of the financial system, especially the banking sector as its most important segment. As the field of financial services has been harmonized under Chapter 9, the paper intends to assess the level of compliance of the national legislation with the EU in the field of banking. Along with regulatory initiatives in the field of safeguarding financial stability in the EU, the NBS pays much attention to the harmonization of its financial stability policy with the policy of financial stability of the European System of Central Banks (ESCB).
Keywords: crisis; financial stability; screening; NBS; ESCB
COMPATIBILITY OF NBS FINANCIAL STABILITY POLICY WITH ESCB FINANCIAL STABILITY POLICY
Mirjana Jemović, Borko Krstić
Abstract: The Republic of Serbia has successfully completed the first stage in the process of accession to the European Union, obtaining the candidate status for membership in the European Union (EU). Currently in progress is the phase of accession negotiations, which implies full harmonization with the EU acquis, with the screening process conducted in 35 thematic chapters. The global financial crisis that has hit our country in 2008 required a timely reaction of the National Bank of Serbia (NBS) in order to preserve the stability of the financial system, especially the banking sector as its most important segment. As the field of financial services has been harmonized under Chapter 9, the paper intends to assess the level of compliance of the national legislation with the EU in the field of banking. Along with regulatory initiatives in the field of safeguarding financial stability in the EU, the NBS pays much attention to the harmonization of its financial stability policy with the policy of financial stability of the European System of Central Banks (ESCB).
Keywords: crisis; financial stability; screening; NBS; ESCB
