Open AccessTHE SAFETY OF THE FINANCIAL SERVICES MARKET – BANKS AND SHADOW BANKING
Author(s) -
Monika Misterska,
Bartosz Wanot,
Mikołaj Kowalewski
Publication year - 2015
Publication title -
periodyk naukowy akademii polonijnej
Language(s) - English
Resource type - Journals
eISSN - 2543-8204
pISSN - 1895-9911
DOI - 10.23856/1408
Subject(s) - shadow (psychology) , business , shadow banking system , fiduciary , financial system , banking union , financial services , retail banking , finance , european union , financial regulation , financial crisis , economics , economic policy , political science , market liquidity , psychology , duty , macroeconomics , law , psychotherapist
In Poland the operations and activities of banks are subject to supervision of the Financial Supervices Authority. In Poland we have also Bank Guarantee Found. From 1-st January 2011 in the European Union, European System of Financial Supervision is functioning. Every states recognize the vital role of banks providing an environment conducive to the sustained development of the national economy. The fiduciary nature of banking that requires high standards of safety. In the article we pre- sented also differences between banks and shadow banking. Shadow banking, in fact, symbolizes one of the many failings of the financial sys- tem leading up to the crisis in many countries.