Zmiany w nadzorze finansowym oraz ich wpływ na system finansowy w krajach UE
Changes in the Financial Supervision and Their Impact on the Financial System in the EU Countries

Summary/Abstract: The aim of the paper is to assess various models of financial supervision existing in the world, trying to answer the question whether current changes in the shape of the supervision over financial markets can improve the effectiveness of the oversight and reduce the consequences of future crises. The paper brings two interesting conclusions. First, there is no single optimal model of financial supervision whose introduction could radically increase the stability of the financial systems. Both the integrated model existing in Poland and the sectoral model used in the United States have their virtues and shortcomings. However, the integrated oversight model, independent of the central bank, does not allow to react effectively and quickly to a turbulence in financial markets. Second, it is not certain whether the system of financial supervision now proposed in the European Union will contribute to more stability in the financial markets of Europe. The common financial oversight for euro area should not influence adversely the condition of the banking sector in the remaining EU countries, including Central Eastern Europe.

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