Template-Type: ReDIF-Article 1.0

Author-Name: János Kálmán
Author-Workplace-Name: Department of Public Administrative Law and Fiscal Law of
the Deák Ferenc Faculty of Law and Political Sciences of Széchenyi István University
Author-Email: janos.kalman88@gmail.com


Title: Bank resolution as a new MNB function –
resolution of MKB BankAdministrative law aspects of the
macroprudential regulation
and supervision of the financial
intermediary system – normativity,
organisation, toolkit

Abstract: Macroprudential policy has developed a new set of instruments for the mechanisms
with which the state intervenes in the economy through its public administration.
However, the global economic crisis and the need for rapid action did not allow time
for the inclusion of macroprudential policy into the dogmatics of administrative
law and therefore this needs to be done subsequently. This study analyses the
legal nature of normative regulation related to macroprudential policy, the
organisational features of the macroprudential authority and the legal appearance
of macroprudential instruments. The final conclusion of the study is that the content
of the public good or public goal, i.e. financial stability, to be implemented by
macroprudential policy is extremely poorly defined. Considering the above, for the
assessment of the achievement of financial stability, i.e. for the state control of the
efficient fulfilment of the public goal, the regulatory environment must create an
efficient legal guarantee system.

Classification-JEL: E30, E44, K23
Keywords: state intervention, CRD IV/CRR, macroprudential authority,
macroprudential policy, financial stability, market surveillance

Journal: Financial and Economic Review  
Pages: 27-50
Volume: 15
Issue: 3
Year: 2016
File-URL: http://english.hitelintezetiszemle.hu/letoltes/janos-kalman.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:15:y:2016:i:3:p:27-50