engleski

The Role of MOU and its Instruments beween Central Banks of Transitional Countries and International Banks in the light of Financial Integration

The aim of this study is to investigate the role of multilateral MoU (memorandum of understanding) between Central Banks of transitional countries and international banks (supervisors) in the light of strengthening financial supervision, cooperation and exchange of financial information in the process of EU financial integration. The main research question is based on the relevance of the MoU instruments such as macroeconomic and financial sector information. Also we want to check the adaptability of MoU instruments which should help to inspect and create operational steps (e. g. stress testing) in transitional countries in the light of actual global financial instability. In the scope of our interest is Croatian National Bank (CNB) and as a representative of transition financial bank of the country on their imminent entry in EU. We will research different MoU’s which CNB signed on its way to EU financial integration as an example. Results of research give us evidence of the dependence between Croatian financial system and financial systems of some specific EU countries such as Germany, Italy and Austria. Reason for closer financial dependence between those EU countries and Croatia, authors find in the strong presence of German, Austrian and Italian affiliate banks in Croatia.

Financial Integration; Banking Supervision; Memorandum of Undersdanding

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