Naslov
CAPITAL MARKETS UNION AND EUROPEAN COVERED BONDS INITIATIVE FOR UPGRADING CAPITAL MARKETS IN THE NEW MEMBER STATES

Autori
Bajakić, Ivana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Economic and Social Development 37th International Scientific Conference on Economic and Social Development – "Socio Economic Problems of Sustainable Development" / Ibrahimov, M ; Aleksic, A ; Dukic, D - Baku : Varazdin Development and Entrepreneurship Agency in cooperation with Azerbaijan State University of Economics (UNEC) University North Faculty of Management University of Warsaw Faculty of Law, Economics and Social Sciences Sale - Mohammed V University in Rabat, 2019, 67-75

ISBN
9771849753006

Skup
37th International Scientific Conference on Economic and Social Development

Mjesto i datum
Baku, Azerbajdžan, 14.02.2019. - 15.02.2019

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
capital markets regulation, Capital markets union, European covered bonds, Central Eastern and South Eastern European capital markets

Sažetak
Covered bonds represent one of the oldest European financial instruments. Covered bond market started with a need to finance the agriculture and was later focused on a real estate. Today, the covered bond market is one of the largest debt market in the world with EUR 2.5 trillion in outstanding amounts, representing a cost-effective source of funding for banks in facilitating the financing of real estate loans and public sector loans. It is active in more than twenty different European countries and growing at the rate of 20% annually outside the European Economic Area. Following these trends, the European Commission has identified new set of building blocks for the Capital Markets Union to enhance more efficient cross-border investments across the EU that could support the real economy and job creation. One of these policy measures concerns a regulatory proposal for the European Covered Bond, to be harmonized on the EU level. Based on the analysis of secondary data, this paper aims to serve two purposes. First, it is to disentangle the effects of the proposed EU covered bonds legislation on the European financial system. Second, to research potential costs and benefits for the Central Eastern and South Eastern European financial markets with regard to harmonisation of the European covered bonds legislation at the EU level.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Pravo

POVEZANOST RADA