European banking market law. European monetary law

obligatory courses

The lecture focuses on two areas of European Union financial law. On the one hand, it comprises issues related to legal aspects of banking market functioning. Here it shows conditions for taking-up and pursuit of the business of credit institutions, with particular emphasis on bank prudential norms and banking supervision. On the other hand, it will focus on presentation and analysis of necessary conditions for euro adoption as well as selected tools supporting economic and legal convergence of EU member states.

1. European banking market law and european monetary law- introductory issues.

2. European banking market law

• Bank as a public confidence institution – regulatory implications.

• European banking market law as element of European single financial market law.

• Sources of European banking market law.

• Credit institution definition; Forms of the business pursuited by credit institutions; The taking-up and pursuit of the business of credit institutions; Bank prudential norms.

• Banking supervision rules; supervision on solo basis and supervision on consolidated basis; Supplementary supervision; European System of Financial Supervision.

• Deposit insurance scheme in European Union.

• Consumer in European banking market.

3. European monetary law

• European monetary law – definition and sources.

• Necessary conditions for euro adoption as well as instruments supporting the maintenance of economic and legal convergence by the EU Member States; Economic and legal convergence criteria and other factors; European Commission’s (EC) and European Central Bank’s (ECB) convergence reports; The Legal Duty to Consult the European Central Bank by national authorities regarding draft legislative provisions.

• Adoption and functioning of euro.

• Single European currency – name, single spelling of the euro, euro coins and banknotes denominations; euro changeover scenarios.

• European monetary law’s response to sovereign debt crisis in the euro area; From European Financial Stability Mechanism and European Financial Stability Facility to European Stability Mechanism; Reforms of EU economic governance – the six-pack; Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (Fiscal Stability Treaty).

• Legal aspects of euro changeover in Poland – an outline of the problem.

1. European banking market law and european monetary law- introductory issues.

2. European banking market law

• Bank as a public confidence institution - regulatory implications.

• European banking market law as element of European single financial market law.

• Credit institution definition and legal aspects of the taking-up and pursuit of the business of credit institutions.

• Banking supervision rules.

• Consumer in European banking market and deposit insurance scheme in European Union.

3. European monetary law

• European monetary law – definition and sources.

• Necessary conditions for euro adoption as well as instruments supporting the maintenance of economic and legal convergence by the EU Member States.

• Adoption and functioning of euro.

• European currency law’s response to sovereign debt crisis in the euro area (European Financial Stability Mechanism, European Financial Stability Facility, European Stability Mechanism; Reforms of EU economic governance – the six-pack; Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (Fiscal Stability Treaty).

• Legal aspects of euro changeover in Poland – an outline of the problem.

Workload of the student:

lecture - 30 h,

preparation for the lecture - 45 h,

learning before the exam - 45 h

altogether - 120 h

1. M. Olszak, Rozdział 2. Europejskie prawo walutowe, (w:) J. Głuchowski (red.), System Prawa Finansowego, Tom IV. Prawo walutowe. Prawo dewizowe. Prawo rynku finansowego, wyd. Wolters Kluwer, Warszawa 2010, s. 23 – 57;

2. M. Olszak, Prawne przygotowania do przyjęcia euro przez Polskę – zarys problemu, Przegląd Ustawodawstwa Gospodarczego 2010, nr 5.

3. Europejski Bank Centralny, Raport konwergencji. Maj 2012, wersja w j. polskim: www.ecb.int/pub/pdf/conrep/cr201205pl.pdf

4. European Central Bank, Convergence Report. May 2012, english version:

www.ecb.int/pub/pdf/conrep/cr201205en.pdf

5. C. Kosikowski, Prawne aspekty wejścia Polski do strefy euro, Państwo i Prawo 2008, nr 12.

6. C. Kosikowski, M. Olszak, Rozdział 7. Od prawa bankowego do prawa rynku finansowego, (w:) J. Głuchowski (red.), System Prawa Finansowego, Tom IV. Prawo walutowe. Prawo dewizowe. Prawo rynku finansowego, wyd. Wolters Kluwer, Warszawa 2010, s. 195 – 250;

7. A. Jurkowska-Zeidler, Publicznoprawne formy oddziaływania państwa i Unii Europejskiej na instytucje kredytowe i finansowe, (w:) J. Głuchowski (red.), System Prawa Finansowego, Tom IV. Prawo walutowe. Prawo dewizowe. Prawo rynku finansowego, wyd. Wolters Kluwer, Warszawa 2010, s.251 – 297;

8. T. Nieborak, Aspekty prawne funkcjonowania rynku finansowego Unii Europejskiej, wyd. DIFIN, Warszawa 2008;

9. C. Kosikowski, Prawo Unii Europejskiej w systemie finansowym prawa finansowego, wyd. Temida2, Białystok 2010;

10. M. Olszak, Bankowe normy ostrożnościowe, wyd. Temida2, Białystok 2011, s. 27 - 126.

Frankfort-Nachmias, Chava; Nachmias, David. Metody Badawcze W Naukach Społecznych. Poznań: Zysk i S-ka, 2001.

11. B. Bartels et al., European banking and financial services law, European Association of Public Banks, Brussels 2010

12. European Commission, The European Union's roadmap for financial reform, EU Publication Office, Luxembourg 2010

After the completion of the lecture student can:

- list differences between credit institutions and other financial institutions;

- list and describe conditions of the taking up and pursuit of the business of credit institutions;

- determine catalogue of bank prudential norms as well as reasons behind their implementation;

– list and describe rules of financial supervision over European financial market with particular emphasis on banking supervision;

–list rules of deposit insurance scheme in the EU;

- list and discuss changes in the European banking market law introduced in the aftermath of financial crisis;

- list and discuss conditions which are behind euro changeover in the EU member state;

- list and elaborate on economic and legal convergence criteria;

- determine the scope of convergence scrutiny in the EU member states, whose national currency is not euro, which is cyclically conducted by European Commission as well as European Central Bank and subsequently reported in convergence reports;

- determine the object and subject scope of duty to consult ECB by national authorities regarding draft legislative provisions;

- determine the rules of spelling of the euro as well as euro coins and banknotes denomination;

- list and elaborate on euro changeover scenarios and rules;

- list and elaborate on changes implemented in the European monetary law in response to sovereign debt crisis in the euro area;

- identify and elaborate on legal problems related to euro adoption in Poland.

in social competence

- is conscious of the need of updating the knowledge in area of law

Written exam which comprises, in particular: the test and written answers to questions concerning issues considered during the lecture.