|
|
Comparative analysis of the Central bank of the Russian Federation and the European Central bank
Fomina, Ksenia ; Mandel, Martin (advisor) ; Metrah, Samy (referee)
The Bachelor thesis is focused on the comparative analysis of two central banks, the Central bank of the Russian Federation and the European Central bank. The first and the second chapters are dedicated to the institutional analysis that gives a brief overview of the legislative definition, organizational structure, objectives and instruments of the monetary policy of the Central bank of the Russian Federation and the European Central bank. In conclusion, there is a comparison of the individual systematic characteristics of the monitored central banks. The last chapter represents the practical part of this thesis, which compares activities of the Central bank of the Russian Federation and the European Central bank with the analysis of assets and liabilities before the financial crisis in 2007 and in the last statistically accessible year 2016.
|
|
|
Relation between central bank independence and accountability at the example of quantitative easing of the ECB and the Fed in 2005 - 2016
Pýchová, Jitka ; Ševčík, Miroslav (advisor) ; Řežábek, Pavel (referee)
The thesis deals with relation between central bank independence and accountability. The relation is examined on example of quantitative easing implemented in the period 2005 - 2016 by the European central bank and the Federal Reserve System. From the theoretical and practical point of view the thesis proves that the relation between central bank independence and accountability are influenced by the specification of targets of monetary policy to a great extent. The thesis also proves that the specific definition of both central bank independence and accountability influenced the characteristics of quantitative resp. credit easing. Moreover, such monetary policy can potentially endanger the independence of both central banks in many ways. Thus, the implementation of quantitative easing itself and its potential consequences evidences that the contemporary conception of central bank independence and accountability is insufficient and needs to be reviewed.
|
|
|
The impact of quantitative easing on fiscal restriction of Greece government
Šanda, Jan ; Young, Mitchell (advisor) ; Karasová, Nikola (referee)
This bachalor thesis deals with quantitative easing of the European central bank and its impact on fiscal restriction of Greece government. The analysis is divided into four main parts. The first one focuses on the EMU institutional framework, especially in relation to the fiscal policies of member states. The second chapter deals with European central bank and quantitative easing on general level and also in relation with the last economic crises. Third chapter examines the interaction between monetary and fiscal policy and the last chapter is devoted to the evaluation of Greece fiscal policy and the impact which quantitative easing may have on it. Results of this thesis suggest that quantitative easing have an impact on fiscal policies of EMU member states. However, taking current situation of Greece state financing into consideration, this is not the case in Greece.
|
|
|
The status and the role of central banks in the EU
Malíčková, Jana ; Bažantová, Ilona (advisor) ; Borkovec, Aleš (referee)
RESUMÉ - THE STATUS AND THE ROLE OF CENTRAL BANKS IN THE EU This diploma thesis compares the Czech National Bank, the Slovak National Bank, the Bundesbank and the European Central bank. Central banks play a significant role in every state and they have big influence on economy of each state. Therefore, their legal regulation as well as precise definition of their competencies are essential. The thesis focuses on their establishment, legal base and legal form, organisation and independence (institutional, financial, personal and functional). Its aim is also to compare tasks, monetary policy, issuance of banknotes and coins, banking and financial regulation and supervision. Establishment of a central bank depends significantly on the historical background of the given state (or union). All of the described banks are settled in regulations of the highest legal importance on the particular state (or union), which is not usual, and also in many other legal acts. Members of the highest body are selected after the agreement of the legislative and executive powers. The Czech National Bank is an exception, since the members of its Bank Board are appointed by the president without a counter signature. The budgets of the central banks are separated from the states' budgets and they are approved by the central banks....
|
|
|
The position and activities of the European Central Bank
Matoušková, Hana ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The aim of this diploma thesis is to evaluate what influence has the ECB decision-making on the Eurozone economy and above all to consider the ECB's involvement in solving of the recent financial and persisting European debt crisis. First two chapters represent rather a theoretical part of the thesis, in which the author is dealing generally with the importance and the role of the ECB in the course of the European integration, including its origin, its management structure and internal decision-making process. The second chapter focuses in detail on the ECB's tasks and competencies with emphasise mainly on the monetary policy and on the clarification how a so called transmission mechanism enables the measures adopted within the monetary policy to transform into the real economy. There is also more elaborated the primary task of ECB which is to maintain the price stability. The second part of this thesis is more analytical and reflects current trends and development in the EU banking sector with an accent on the ECB's attitudes. The recent financial crisis is discussed in the third chapter together with the new regulatory rules. Financial crisis tend to have some joint characteristics like e.g. the source of their origin that often lies in an excessive and rapid loan expansion, in leverage increase,...
|
|
|
Supervision over the banking industry in the EU Member States
Kropjok, Vít ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
The goal of my thesis on Supervision over the banking industry in the EU member states is to describe critically and to define newly engendering concept of the banking union. It is a very actual topic because the effective mechanism creation, which should solve problems of the European banking sector, is currently one of the primary goals of the European Union. The study is divided into three chapters. The first chapter is the theoretical one. The definition and differentiation of the essential terms such as supervision and surveillance can be found there. Further the basic theoretical modules can be found there, from which it is possible to stem during the banking supervision implementation in practice. The second and the third chapters are the analytical parts. The introduction of the second chapter glances at the backgrounds of the legislative proposals acceptance in this area. Afterwards the chapter is already focused on four pillars of the proposed Banking union. The first pillar is formed with so called "single rule book", thus the uniform regulatory rules that are the implementation of the requirements expressed in so called Basel III. In this part of the study there is outlined why it is not quite happy at present to burden the credit institutions in the European Union even more through...
|
|
|
The Motivation of the Federal Republic of Germany behind the Introduction of the Euro
Hadravová, Tereza ; Dvořák, Pavel (advisor) ; Mlsna, Petr (referee)
This bachelor thesis deals with the time period between 1988 and 1990, when the future Economic and Monetary Union (EMU) was formed in the European Community (EC). As an introduction into the topic the author outlines the development of monetary integration in the EC until the establishment of the European Monetary System (EMS). The aim of this thesis is to discuss the main motivation actors, that could have lead Germany, the strongest economy of the EC, to support the project of monetary integration. Possible factors are divided into two main groups - political and economic. Each factor is described and accompanied by an analysis, if and how the factor played a role in Germany's motivation. The part concerning the political background of Germany's motivation begins with the fact, that it was the foreign minister Hans-Dietrich Genscher who introduced the topic of monetary union. The text further deals with the unsustainability of the Bundesbank's dominant status in the EMS and the strong as well as symbolic position of the D-mark. The part about political motives is concluded with a subchapter about Germany's reunification, which too place during the time when the EMU was intensively discussed. Within the economic motivation the author analyses four different economic points of view. The first one...
|
|
|
Supervision in banking industry
Kubáňová, Klára ; Vondráčková, Pavlína (advisor) ; Kohajda, Michael (referee)
The aim of submitted thesis Supervision in banking is to define the nature and the importance of banking supervision, to justify its existence and to analyze the applicable mechanisms while the system of banking regulation and supervision in this thesis is primarily examined in the European context, with a focus on the Czech Republic. The thesis is divided into five main chapters. The first chapter is devoted to the financial system and the importance of banks in this system, it defines the characteristics of banking systems, provides the definition of the term bank and describes the banking system and the banking environment in the Czech Republic. The second chapter focuses on general aspects of banking regulation and supervision, it defines and distinguishes these concepts; furthermore, it specifies its objectives and deals with the arguments against banking regulation and supervision. The third chapter analyzes the various instruments of banking regulation, in particular the banking license, and other particular requirements, including but not limited to capital adequacy requirement. The chapter also deals with the compulsory deposits insurance and the position of the central bank as a lender of last resort. The fourth chapter focuses on banking supervision, which involves mainly the examination...
|
|
|
Czech national bank, legal status and content of activity
Semecký, Petr ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Karfík, Zdeněk (referee)
disertační práce Petr Semecký Česká národní banka, právní postavení a náplň činnosti 5 Abstract A. Objectives The main goal of the dissertation "The Czech National Bank, legal status and content of activity" is to quantify, qualify and draw as exact as possible conclusions about some aspects of the development, status and activities of the Czech National Bank in the future. To solve this task, the author has used in the introduction of this work three following key questions: 1. What are the implications for the Czech National Bank of the new bodies supervising the financial markets at european level? 2. What are the benefits and negatives of adopting the euro for the Czech Republic and should the Czech Republic actually join the European Monetary Union? 3. What impact will have the amendment of the Capital Adequacy Directive (the "Basel II") on the activities of the Czech National Bank? B. Methods By creating this work was used a wide range of research methods to ensure that there will be drawn conclusions with the best possible informative value. It is possible to mention particularly the method of recherche, abstraction, comparison and synthesis. C. Sources As the most important sources used by creating the work can be mentioned ecpecially, scientific publications, monographs, articles published...
|
|
|
The central bank, its scope of activities and legal status
Volfová, Klára ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
The central bank, its activities and position Abstract Central banks are in today's global banking system an indispensable part of a stable functioning market economies. I was always interested in these issues. I studied these issues in another master's degree course. The subject of this thesis is the central banking system in the Czech Republic and in the European Union. In the first chapter I focus on definition of banking and on the characteristics of three models of the banking system (single-stage, two-and three-stage banking system). The second chapter is the largest of all chapters. In this chapter I deal with the formation of Monetary Union, the creation of the European central banking system and the foundation of the European Central Bank. I analyze the legal base of European Central Bank, its organizational structure, issuing of legal acts, the capital. I deal with the introduction of the euro in member and non-member countries too. Special attention is paid the independence of the European Central Bank. I analyze its institutional, personal, financial, material and budgetary independence. The conclusion of this chapter deals with the preparations for the introduction of the euro in the Czech Republic. In the third chapter I describe the historical development of European central banking and the...
|
guest ::
