<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The Republic of Serbia has successfully completed the first part in the European Union integration process, being granted candidate status for membership in the European Union (EU). The stage of accession negotiations is in progress, and it includes the full harmonization with the EU acquis, whereby the analytical review of legislation, the so-called screening is being carried out in 35 chapters. The global financial crisis that affected our country in 2008 has required a timely reaction of the National Bank of Serbia (NBS) in order to preserve the financial system stability, especially the banking sector as its most important segment. As the financial services sector adjusts within chapter 9, the aim of this paper is to assess the level of compliance of national legislation with the EU legislation regarding banking sector. Along with the regulatory initiatives in the field of preserving financial stability in the EU countries, the NBS has paid great attention to the harmonization of its financial stability policy with the financial stability policy of the European System of Central Banks (ESCB).</p></abstract>

The Republic of Serbia has successfully completed the first part in the European Union integration process, being granted candidate status for membership in the European Union (EU). The stage of accession negotiations is in progress, and it includes the full harmonization with the EU acquis, whereby the analytical review of legislation, the so-called screening is being carried out in 35 chapters. The global financial crisis that affected our country in 2008 has required a timely reaction of the National Bank of Serbia (NBS) in order to preserve the financial system stability, especially the banking sector as its most important segment. As the financial services sector adjusts within chapter 9, the aim of this paper is to assess the level of compliance of national legislation with the EU legislation regarding banking sector. Along with the regulatory initiatives in the field of preserving financial stability in the EU countries, the NBS has paid great attention to the harmonization of its financial stability policy with the financial stability policy of the European System of Central Banks (ESCB).

Comparative Analysis of Financial Stability Policy of The National Bank of Serbia and The European Central Bank

University of Niš, Faculty of Economics, Serbia

Economic Themes

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The Republic of Serbia has successfully completed the first part in the European Union integration process, being granted candidate status for membership in...

Comparative Analysis of Financial Stability Policy of The National Bank of Serbia and The European Central Bank

Published Online: Apr 15, 2016

Page range: 142 - 161

Received: Feb 23, 2015

Accepted: Jun 26, 2015

DOI: https://doi.org/10.1515/ethemes-2015-0009

Keywords
crisis, financial stability, screening, NBS, ESCB

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Comparative Analysis of Financial Stability Policy of The National Bank of Serbia and The European Central Bank

Published Online: Apr 15, 2016

Page range: 142 - 161

Received: Feb 23, 2015

Accepted: Jun 26, 2015

DOI: https://doi.org/10.1515/ethemes-2015-0009

Keywordscrisis, financial stability, screening, NBS, ESCB

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
crisis, financial stability, screening, NBS, ESCB