essential practice of systemically important banks regulation

7/23/2019 ESSENTIAL PRACTICE OF SYSTEMICALLY IMPORTANT BANKS REGULATION

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N. Tomchuk-Ponomarenko, PhD in Economics, AssistantTaras Shevchenko National University of Kyiv, Kyiv, Ukraine

FORMATION OF THE MAIN AREAS OF THE ECONOMY PROSPERITY AND LIVING STANDARDSSocial-economic essence of the category of "social standard of living" is disclosed, and its correlation with the other synonymic categories

such as "human wellbeing", "living conditions", "social standard of living", "quality of life" and "mode of life" is shown. Evolution of scientificviews on the essence of the category of social standard of living as well as some methodical aspects of its study is put under analysis. Maindirections of welfare economics are described in history of researches of standard life of population in world practice. Parameters relevant to social

standard of living's study and assessment are suggested.Keywords: social standard of living, quality of life, well-being, social inequality.

Bulletin of Taras Shevchenko National University of Kyiv. Economics, 2014, 11(164): 65-69336.71:316.32JEL B52; G28

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V. Trokhymenko, PhD in Economics, AssistantTaras Shevchenko National University of Kyiv, Kyiv, Ukraine

ESSENTIAL PRACTICE OF SYSTEMICALLY IMPORTANT BANKS REGULATIONThe paper analyzes specific features of establishment of new regulatory standards of systemically important banks as one of the most priority

directions of post-crisis improvement of supranational financial regulation. The essense of active and prearranged initiatives to secure constant activityof global and domestic powerful super-big banking institutions is investigated as well as some approaches as to recovery measures implementationwithout involvement of taxpayers' funds in case of their financial failure are considered. In particular, the main points are focused on introduction ofadditional requirements to the sufficiency of capital of global systemically important banks, development of the regulatory mechanisms of domesticsystemically important banks by domestic authorities taking into account the specific peculiarities of certain national economies, structural reforms asto separation of traditional banking from the securities transactions for the depositors protection (Volcker rule, USA; Vickers rule, UK), establishment of

the Single Supervisory Mechanism for the Eurozone banks, and declaration of necessity to form the Single mechanism for bank bankruptcy resolutionetc. Some proposals concerning transformation of domestic system of financial regulation and supervision in Ukraine, like strengthening control ofsystemically important banks activity and introduction of mega-regulator model are characterized.

Keywords: systemically important financial institutions; global systemically important banks; domestic systemically important banks; suprana-tional level of financial regulation and supervision.