Safe Bank

The Bank Recovery and Resolution Directive (BRRD) introduced into EU legislation a new procedure, i.e. resolution, maintaining at the same time standard insolvency proceedings as a default option for dealing with failing banks. The experience so far indicates that such a shape of EU crisis management framework is not optimal. The article presents six main issues that need to be addressed in order to ensure greater consistency, effectiveness, and credibility of EU crisis management framework. The topics reviewed in the article concern public interest assessment, unalignment between triggers for resolution and triggers for initiating insolvency proceedings, availability of state aid as well as lack of clear regulations for liquidity in resolution. Other topics discussed in the article include resolution of small and medium-sized banks with greater support of deposit guarantee schemes. The paper presents the reasons why the indicated areas need to be addressed as well as tries to provide a direction of desired regulatory changes.

Stabilization of the financial system and counteracting economic crises are today among the most pressing challenges and public authority tests. Over the last couple of years it was possible to observe in various countries a process of institutionalizing a new ”macroprudential perspective” which, unlike previous solutions, covers the entire financial system. Simultaneously, a new conceptual network has emerged, which seems to ignore the existing terminological conventions. In particular, the term ”supervision” is used instead of ”policy”, or the two are sometimes used synonymously. This proposition applies to both EU and national law (e.g., in Poland) and the nomenclature used in the literature, where there is no in-depth, interdisciplinary analysis in this area or comparative surveys of the terms used. Therefore, the purpose of this paper is to systematize the most important terms used in the area of financial stability and to clarify their meaning by indicating the correct conceptual designations.

The idea of creating a new capital market instrument emerged from the concept of Capital Markets Union. It draws inspiration primarily from the very good experience of covered bonds, which provide a stable, long-term and relatively cheap source of financing banking activities, while contributing to building the stability of the financial system. European Secured Notes fulfill the aims of the Capital Markets Union by supporting the financing of small and medium enterprises, which are the backbone of the EU economy, and which have been severely impacted by the Covid-19 crisis. The first implementations of ESNs allow for drawing preliminary conclusions regarding the effectiveness of this new capital instrument, which are presented in this article

The digitization of banking services in recent years has had a substantial impact on banking
distribution channels. The increasing use of mobile devices presents a significant challenge
for the banking sector and forces financial institutions to focus their actions on encouraging
consumers to use electronic distribution channels for banking services, which influences the
manner and frequency of use of banking services. The purpose of the article is to analyze the
impact of the digitalization of banking services and digital inclusion of the society on financial
inclusion. Explanatory variables were divided into four groups, which include the macroeconomic
and technological factors, the infrastructure of the banking system and selected
measures of the banking sector effectiveness. The article provides also an in-depth analysis
of the impact of the level of education of the society on digitally-based financial inclusion.
An analysis of factors influencing digital and financial inclusion was carried out in European
Union countries for the years 2012–2019. The data for the research was obtained from the
IMF (Financial Access Survey), ECB (Statistical Data Warehouse), Eurostat, BIS, ESMA databases.
The article specifies the essential factors related to digitally-based financial inclusion
of a society, confirming the previous findings and indicating new variables affecting financial
inclusion, including the role of the society’s educational level.

The article presents an augmented version of the submission for the final stage of the 4th edition of the CFA Ethics Challenge (2021). It comprises descriptions of events taking place during the first week on the job of a new bank advisor and assessments of these events taking into account CFA standards and Code of Banking Ethics. The authors analyze situations in which bank employees have found themselves, identify breaches of ethical standards and propose general recommendations for improvement, including for example an ethics survey of credit institutions’ employees. The presented material can be particularly useful for ethics training and for in-depth case studies analysis.

The article presents an analysis of the ethical issues identified in a case study involving a description of events during the first week of work of a new bank advisor in a hypothetical bank (New Bank). The analysis was created for the final stage of the 4th edition of CFA Ethics Challenge (2021). Basing on the model of the fraud triangle, three groups of reprehensible behaviours and actions were identified with appropriate solutions. The article also presents recommendations for the improvement of ethics in New Bank and focuses on aspects deemed crucial.