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Prudential Supervision of credit institutions according to legal acts of European Communities
Nebeský, Štefan ; Tomášek, Michal (advisor) ; Dřevínek, Karel (referee) ; Kohajda, Michael (referee)
The purpose of the presented thesis is to analyse the developments of the regulatory framework relating to the taking up and pursuit of the business of credit institutions within the European Union (EU). One of the main reasons for this research is the development of the regulatory framework in the aftermath of the financial crises which showed its destructive effects after the financial collapse of Lehman Brothers in September 2008. The EU regulatory respond to the crisis led to the establishment of the new European System of Financial Supervision (ESFS). The new regulatory framework affects not only the role of the national standard setters and the work of national supervisory authorities but also rights and duties of all regulated and supervised entities of the financial market. The thesis is composed of five chapters. Each of them is dealing with the development of the regulatory framework concerning technical instruments of prudential supervision in the area of credit institutions. The introductory Chapter One defines instruments of prudential supervision which are applied by credit institutions and their supervisors under the present so- called Capital requirement directives (CRD). Chapter Two describes the evolution of the process of harmonisation in the area of credit institutions. The...
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Transaction with securities and their legal regulation
Reiterman, Dávid ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Resume: The aim of my thesis is to define the area of investment banking and point out its specifics in terms of Czech life and institutions in carrying out securities transactions by way of analyzing relevant legislation, its doctrinal interpretation, supplemented by some practical conclusions drawn from relevant case law and opinions of regulatory bodies. The thesis is divided into three separate parts. The first part tries to grasp theoretical concepts used in the title of this work. The definition and nature of security is essential for its later usage in terms of operations which are performed with such securities by investment banks. Types of such operations are defined by various investment services which determine the extent of investment banks' scope of business. In addition to those investment services, the Czech regulatory environment also addresses the status of investment banks whose different models (in terms of their functioning) can lead to terminological questions of why some investment banks are not a bank in a legal sense. The above provides a basis for the second part of my thesis, which is concerned with an analysis of respective securities operations that are usually carried out by investment banks operating in the Czech Republic. These operations are linked together and are often...
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The Czech National Bank and the national plan of adopting euro in the Czech Republic
Tabačák, Anton ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Dřevínek, Karel (referee)
- - 179 - - RESUMÉ or SUMMARY Keywords: Czech National Bank, National Changeover Plan, relationship, commercial banks, banking sector, financial market, europe structure of the banking sector, communication, responsibility of the CNB, non-financial sector, consumer protection, legislation - responsibility of the Ministry of Justice My dissertation thesis starts from the analysis of czech central banking, its history and role in modern europe economy. It refers to old famous,, historiae magistra vitae", because only problems, which had central banking in history, created central banking today. Special chapter is devoted to the Czech National Bank. The Czech National Bank is the central bank of the Czech Republic and the supervisor of the Czech financial market. It is established under the Constitution of the Czech Republic and carries out its activities in compliance with Act No. 6/1993 Coll., on the Czech National Bank and other regulations. It manages the assets entrusted to it by the state independently and with due diligence. Interventions in its activities are only permissible on the basis of a law. The supreme governing body of the Czech National Bank is the Bank Board, consisting of the Czech National Bank Governor, two Vice-Governors and four Chief Executive Directors. All Bank Board members are...
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Legal and economic aspects of securitisation
Urbancová, Barbora ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Dřevínek, Karel (referee)
186 13 ABSTRACT Theme of this dissertation is "Legal and economic aspects of securisiation". The main goal of the dissertation is to perform a comprehensive legal analysis of the issues relating to transactions, which can be termed securitisations, regarding also related economic aspects, while focusing especially on the analysis of special public law regulation of certain aspects related to securitisation under Czech law. The dissertation contains nine chapters. The first chapter specifies the theme of the work, its content, structure, main sources, goals and methods applied. The second chapter provides the basis for the subsequent legal analyses elaborated within the following chapters, as it deals with the general meaning and purpose of securisitation, its definition under applicable law, a standard structure of securitisation transaction and most common products of securitisation including evaluation of their character under Czech law. The essential issue rests with the interpretation of the general definition of the term securitisation in a way it is accepted in financial sector, it means as a tool of structured finance that covers all possible variations of secturisation transactions, as well as the interpretation of the definition of the term securitisation with respect to special public law...
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Banking transactions and their legal regulation
Nevrlý, Lukáš ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
/ Banking transactions and their legal regulation The aim of my diploma thesis is to analyse banking transactions and to inform about their substential elements, legislation in the Czech legal order and business conditions used by banks. I did not explain all the kinds of banking transactions conducted by banks in this diploma thesis due to their extensive range, but I just focused on the most important transactions in my point of view. The thesis is composed of four chapters, each of them dealing with different aspects of banking operations. Chapter One is introductory and defines basic facts about banks and legal conditions of their running activities. The chapter consists of three parts. Part One focuses on concept of banking transactions. Part Two investigates divisions of banking transactions and Part Three addresses the issues of bank as an entrepreneur. It also describes relevant legal regime necessary to obey to perform banking transactions and question of acquiring banking licence. Chapter Two is subdivided into two parts and provides explanation of active banking transactions. Part One illustrates single credits, which are subdivided into five parts focused on credit bureaus, residential and commercial mortgages, consumer credits, current account credits and discount credits. Part Two...
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Topical legal issues of banking regulation
Kadlic, Alexander ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Current Legal Issues of Bank Regulation - Resume This thesis paper deals with issues that can be found in relation with bank regulation. At present, globalized world, banks as important financial intermediaries play a major role. Banks are present in our daily lives and whether or not we want to, they facilitate our everyday operations with the money, investment of free monetary resources, and also borrowing of money. We got accustomed to the convenience that the use of various banking services provides. Equally important are the services of banks for businesses enterprises, various investment companies and funds, and also the countries themselves (the governments). Failure of this system, now that so many subjects are dependent on it, could have far-reaching negative consequences. The bank regulation and its instruments serve as a protection against the rise of adverse consequences. With the growing importance of banks in our society, the importance of their regulation grows as well. But even this may not represent perfect protection and bank regulation may conceal other unforeseen problems. This thesis on "Current legal issues of bank regulation" reflects the legal status of May 31 2012 and is trying to highlight the problems that occur in specific instruments of banking regulation. The aim of this work...
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The legal nature of derivatives
Votýpka, Petr ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Legal nature of derivatives This diploma thesis deals with the legal nature of derivatives. To the legal aspects of the nature of derivatives has not been yet devoted much attention in Czech or foreign literature, even if it is the legal nature that could provide the answers to many questions, seeking the cause of the current economic crisis in an incorrect and unprofessional use of derivative contracts. The thesis is divided into three separate parts. The first chapter is devoted to the issue that arises from the definition of derivatives. Next part classifies derivatives into several groups, especially in terms of their place where they are traded on those that are traded on the market and those they are traded over the counter. The second part focuses on the legal nature of derivatives. First, their similarity is analyzed in terms of character as a gambling contract, and then in terms of their purpose as an insurance policy. This section concludes with the list of various derivative contracts such as swaps, forwards and options and their legal characterization, with regard to the provisions relating to the Czech law, applicable in the case of trading in derivative contracts. In all parts of dealing with the legal principle is allowed for future regulation of private law contained in the new Civil Code....
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The issue of so-called Chinese walls in banking industry
Vičan, Michal ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
The purpose of this thesis is to introduce and analyse the regulatory means of the so-called Chinese walls in banking sector. This is done by examining the Czech Banking Law, but also through comparison of the mechanism of Chinese walls to alternative methods of regulation, as well as by presenting of two practical studies dedicated to Chinese walls. As mentioned, the focus is placed on Czech legislation, however, we do not omit various alternative abroad regulatory approaches used in the past or indeed planned to be passed in the nearest future. The reason for the research is our interest in banking law and this form of regulation of insider trading. The thesis is composed of Introduction, three numbered chapters and Conclusion. Each of the chapters deals with different aspects of the thesis' topic. Introduction briefly explains the different issues that are to be discussed further. In Chapter One, we firstly explain our position on what indeed is the reason the Chinese walls have been introduced to the Czech legal system. After that, we mainly concentrate on the Czech banking legislation, thoroughly analysing its numerous legal aspects. In the end of this chapter, as the result of our analysis, we present our amended version of the law with the recommended changes. Chapter Two describes a brief...
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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...
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Capital adequacy of banks - grounds, development and prospects of its regulation
Nádvorník, Petr ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
xi Abstract This thesis aims to provide eclectic legal and economic insight into the history, current principles and possible future development of bank capital adequacy regulation. We have worked with a variety of legal and economic literature and official Basel Committee publications. Our goal was to explore the economic background behind the Basel standards and find its legal ramifications and the incentives they create. In the first chapter, we analyze the economic rationale for banking regulation, explain possible methods of bank capital regulation and juxtapose them with other means of regulatory measures in the field of banking. The first chapter also gives overview of the Basel I framework, its implementation process, describes its utilization of new regulatory techniques, as well as its weaknesses. Second chapter provides overview of Basel II approval process and discusses its transparency and institutionary framework. Problematic issues of CRD directive in the Czech Republic are discussed in contrast with norms of due legislation process. In the next chapter, we describe the mechanics of the Basel II framework. In greater detail, we focus on the issues of securitization, off-balance sheet exposures and methods of "promise-shifting" in the financial system. Examples are used to illustrate the...
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