We analyze the benefits and costs of a non-euro country opting-in to the banking union. The decision to opt-in depends on the comparison between the assessment of the banking union attractiveness and the robustness of a national safety net. The benefits of opting-in are still only potential and...

We analyze the benefits and costs of a non-euro country opting-in to the banking union. The decision to opt-in depends on the comparison between the assessment of the banking union attractiveness and the robustness of a national safety net. The benefits of opting-in are still only potential and...

This is a summary of PhD thesis (title above) in Warsaw School of Economics 2013. Detailed research results are published as a CFS Policy Paper in my profile.The main thesis states that central bank's involvement in contributing to financial stability is determined by many factors, two of which...

Aim of this article is to provide a critical review of the financial stability definitions available in the literature and used by central banks in the EU. The author attempts to justify that there is no single, universally acceptable definition of financial stability and the ones present in the...

The article aims to answer a number of research questions. The first question concerns some major gaps in financial system regulation and in the safety net that have been exposed by the latest global financial crisis. Another question is how the banking sector will be influenced by the ongoing...

The aim of this article is to present the principles of functioning of the European Systemic Risk Board (ESRB). Starting with the origins and description of its main tasks, author tries to identify main reasons behind the creation of a new pillar of safety net in the EU, responsible for...

This study focuses on the role of financial development in the economic growth of Central, Eastern and South-Eastern European (CESEE) countries in the post-communist era (1995–2014), which coincides with the opening up of financial markets to foreign investors and the global financial crisis....

Polish Abstract: W niniejszym artykule analizuje się w jakim zakresie systemy bankowe 19 krajów postkomunistycznych różnią się od systemów bankowych 21 krajów wysoko rozwiniętych. Analiza obejmuje okres od 1995 do 2014 roku. Analizą objęto wielkość sektorów bankowych, ich...

The aim of the study is to analyze the concept of systemic risk. The study reviews a multitude of systemic risk definitions in the literature. In addition, the paper identifies factors that contribute to the build-up of systemic risk (vulnerabilities), the spreading of contagion and provides a...

Polish Abstract: Doświadczenia z funkcjonowania krajowych systemów gwarantowania depozytów (ang. deposit guarantee scheme – DGS) w UE podczas ostatniego kryzysu wskazują, że nie jest to rozwiązanie sprzyjające stabilności finansowej na poziomie paneuropejskim. Fragmentaryczne krajowe...