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1
Content available remote Development of Standardisation of Qualification Requirements in Banking in Poland
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The choice of a profession should be determined by certain traits of character, cultural habits and predisposition. Qualification standards - a description of requirements to be fulfilled by bankers - define the scope of knowledge, skills and predisposition necessary for the employee's adequate functioning at a given post. In the system of qualification standards of the Polish banking there are four professional ranks: independent bank clerk; qualified bank clerk; expert in one of the nine areas of specialisation; bank expert/manager in one of the four integrated areas of specialisation. Additionally, in 2003, the European Bank Training Network (EBTN) project aimed at preparing and implementing the European qualification standard and the European certificate of banker was worked out. Attaining a professional rank requires: a) passing a relevant theoretical exam; b) acquiring adequate practical skills, approved by the bank, and gaining sufficient work experience. Raising one's professional qualifications and attaining higher professional ranks within qualification standards of the Polish banking is becoming more and more popular. By the end of June 2005 there were altogether 522 examination sessions, and 10,776 candidates successfully completed the certification procedure.
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The article concerns the possibilities to assess the effectiveness of bank services basing on an analysis of their interest margins, and its aim is to show the informational capacity of those measures. The first part of the article discusses theoretical issues related to setting various types of interest margins and on their basis specifying interest margin discrepancies. Then results of empirical research are presented which were conducted basing on the data from quarterly financial reports of selected WSE listed banks in 1998-2009. The analysis covered the shaping of all the discussed values in time, both for the bank sector as a whole and in relation to particular banks.
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Supplementary supervision of the risk of financial conglomerates has been regulated since 2005 by a new directive in the European Union. In many countries, financial conglomerates have evolved in recent decades with ownership links displaying the ever stronger cooperation of banks and insurance companies. The effects of the evolution of such financial conglomerates have not been fully explored. Despite the empirical relevance of this question, indicated also by the passage of the new EU directive, the theory of the risk effects accompanying the evolution of financial conglomerates is remarkably undeveloped. The article offers a new theoretical framework that separates the transaction, motivation and portfolio effects of the establishment of financial conglomerates and analyses the consequences of these effects on the institution-level stability of banks and insurance companies.
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“The future we want”, the main document summarizing the action areas advocated by the Rio+20 conference (Rio de Janeiro, Brazil, June 20-22nd), advocates “green economy” as a main instrument to eradicate poverty, while maintaining the healthy functioning of the environment. “Green economy” is a reply to global capitalism and the excesses of its elite practitioners, as they became manifest during the recent economic crisis. It roots in the observation of the parallels between the world’s ecological crisis and the financial crisis. Both are products of a failed economic and social system. The green economy model holds the potential to bring together the needs for economic security and environmental protection, and to integrate an array of reforms in policy initiatives, regulatory actions, business standards and personal lifestyle behaviors. A classical contribution of the private business sector to sustainable development is corporate social responsibility (CSR). The concept dovetails in the doctrine that a company is not only responsible for a positive economic performance, but also has to take care about the environmental, social and ethical aspects of its activities. Companies have to transparently report on these activities in their sustainability or CSR report. One of the main external advantages for CSR conscientious companies is that they are included by banks in ethical and sustainability portfolios. These funds, although originating in the US Methodist and Quakers traditions, are among the fast growing sections of the products offered by European banks. The CSR system is criticized by developing countries and NGOs for its improper use of green economy products (“green washing”). This paper shows that a “green economy” will be a necessary part of a more sustainable society in the future. CSR is a useful instrument contributing to this evolution. Optioning for CSR should be based on ethical considerations and the conviction that “going green” is important for the future of industry and services, rather than on the expectation of short term monetary profitability. More research on assessment methods and more coherence in the practical implementation of CSR are mandatory.
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The activity of the financial market supervisory authority must focus on overseeing all types of risks taken by financial institutions, among them the operational risk and the legal risk. Therefore, it seems indispensable for the supervisory authority to be authorised to control and vet central decision-makers in financial institutions. The aim of the present article is to present the currently applied legal solutions in the scope of competencies of the Polish Financial Supervision Authority concerning its influence on the composition of management boards of financial institutions. It also attempts to assess them and presents the author’s suggestions of legal solutions that could be applied in this area. It seems justified to develop regulations that would to the largest possible extent satisfy the interests of the market and at the same time guarantee security of financial institutions’ clients. In this article the author tries to prove that the objection tool in the hands of the Polish Financial Supervision Authority would work better than the instrument of approval.
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The paper presents one of the most important measures in the Polish banking sector, the Capital Adequacy Ratio, which since 1990 has been an indicator of the safety and financial stability at particular banks and throughout the banking system. At the beginning, the measure originally provided information about the equity coverage of credit risk. Over the last 20 years it has been systematically modified, as further risks were identified in the banking industry. All those changes were accompanied by variations of the definition of bank equity. The modifications of legal regulations led to inconsistency in CAR values in groups of commercial and cooperative banks. The aim of this paper is to present those legislative changes which had a significant impact on the metric’s formula in the years 1990–2009, and to answer the following questions: Were there any significant differences between the values of CAR in groups of commercial and cooperative banks in the years 2002–2009? Were groups of banks threatened with an inappropriate CAR value? Did the changes in legal acts affect changes in the value of the measure analysed? Was the growth of risk accompanied by a sufficient increase in the groups’ equity? Empirical analysis was conducted on financial data published by the Polish Financial Supervision Authority.
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The decisions of banks about the yields on their assets and liabilities have an impact on the expenditure and investment behavior of deposit holders and borrowers and hence, on the real economy. This paper analyses the interest rate pass-through in Hungary, with the help of ECM and TAR models, using both aggregated and bank level data. According to the linear ECM results, the corporate loan market, which is characterised by the strongest competition, adjusts its rates fully and quickly to the short-term money market rate. The adjustment of deposit rates and household loan rates is characterised by incompleteness and/or sluggishness. The paper also focuses on the potential non-linearities of banks' pricing by TAR models. The results suggest that the speed of adjustment of bank rates depends on the size of the changes in the money market rate and the distance of bank rates from their long-term equilibrium level. The sign of yield shocks and the volatility of the market rate also turn out to be influential to the speed of adjustment.
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Content available remote Korzystanie z usług bankowych przez rolników indywidualnych w Polsce
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The paper analyses the structure and dynamics of credit indebtedness of agricultural holdings and farmers’ bank deposits in Poland in 1996-2009. The aim of this article was to describe the financial relationships agricultural holdings with banks, and characteristics farmers as purchasers of banking services, including the identification of specific attitudes and behaviours of farmers in the banking market, which differ from other groups of bank customers (non-agricultural entrepreneurs, individuals). Agricultural holdings were analysed as a sector. The source of empirical data were statistics of NBP (National Bank of Poland), GUS (Central Statistical Office) and FADN.
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Content available remote Problematyka pomiaru ryzyka operacyjnego w bankach
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This article discusses the importance of operational risk in shaping the solvency of banks. The accompanying analysis has been done in the context of observed changes in the activities of the financial institutions, especially in association with the intensification of ICT techniques, common non-traditional banking activities, as well as new banking products and services. The increasing importance of operational risk has provoked the need for its measurement. Existing solutions in the domestic banking system remain to be based on setting capital requirements, mainly based on the method of the basic index, which causes requirement result to be over-estimated. One of the ways to make the requirement value more realistic for operational risk, is to estimate it using advanced methods. This method should be considered as an opportunity to allow banks to transfer the newly obtained "risk reserve", onto for example credit risk while maintaining the same ratio of capital adequacy.
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The formation and development of the eurobonds market in Ukrainian banks, being one of the perspective ways aimed at bringing in of foreign capital into the banking sector, have been considered. The features of the eurobonds emission have been elucidated. The analysis of modern state of bank eurobonds has been carried out and the most attractive offers for investment have been determined. Key problems that impede the development of domestic banks on the international debts liabilities market have been revealed. The future prospects of functioning of the banks euroborrowings have been outlined.
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The essence of bank's resource policy has been considered and its division into accumulation and capital formation policy has been substantiated. The components of resource policy such as deposit's policy, policy of capitalization, borrowing policy, credit and investment policy are described. The problems of Ukrainian banks' resource policy realization in condition of financial crisis have been determined.
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Network theory is widely used in many sciences and has a long tradition in the social sciences as well. The methods widely used in it might also be employed profitably by commercial banks. The article shows how the decision-making process may become biased if the network effects within a corporate client portfolio are disregarded. The authors demonstrate the potential usefulness of network theory in two distinct areas. The first set of applications relates to classical problems in banking business. Taking the network effects in the corporate client portfolio into account allows the fields of customer attrition, customer retention, customer acquisition, diffusion of various banking products, and optimal pricing policy to be addressed. The second set of applications relates to assessment of portfolio stability. If one big corporation fails or recession hits one industry, it may have a severe impact on interlinked companies and on the banking sector. Attention was paid in the article to showing how the application of network theory can create value in the banking industry.
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Content available How do Polish children understand economic concepts?
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Knowledge and understanding of basic economic concepts is crucial for the future orientation of a child in a world of economy and influences taken in this sphere behaviors. Nowadays, children earlier and earlier begin activity in the market, thus the role of economic knowledge increases. This paper presents the results of the research on the fundamental concepts of economic knowledge and understanding of market mechanisms by the children attending the first and sixth grades of primary school. In particular, it analyzes the process of gaining knowledge about money, banks and relation between the supply of a particular good and its price. The results show that children gradually gain economic knowledge, reaching the level enabling to understand the relations between particular actors of the market at the age of twelve.
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The author analyzed the activity of financial intermediaries on domestic financial services market; the main features and trends of their development are identified. The article highlights the main problems that hinder the development of financial intermediation and whole financial market of Ukraine.
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Financial institutions have a special role in the economy. Monetary financial institutions take part on realizing monetary policy and provide economic subjects with necessary finances. Majority of credits are granted to households from banking institutions. Therefore the objective of this paper is to identify determinants of household credits in Slovakia. The credits to households are positively influenced by disposable income and negatively by unemployment rate, real interest rate and earnings from property.
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The future of collective investment sector in the Slovak Republic is analysed in the article. In the first part the authors compared selected criteria of the sector from the Slovak Republic, from the Central and Eastern European region, and worldwide, and defined main specifications of the local collective investment market. Next, perspectives of further development of the sector after the crisis is dealt with, mainly from the point of view of expected changes in customer behaviour, simplifications of product portfolio, changes in legislation, tightening of regulation, and subsequent changes of business models of the collective investment companies as their reaction on the changes. There are analysed possible alternatives of the sector development after the implementation of the UCITS IV directive in the year 2011 in Slovakia. The article also includes evaluation of questionnaires related this issues, which were completed by senior managers from asset management companies and banks.
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One of the main aims of the government circles of the Slovak Republic in the 1939-1945 was the control of finance and business sphere by the national Slovak capital. The pre-condition for implementing these plans was strengthening of the position of national Slovak banking by means of concentration of finance. However, the government program in finance and business struck against the plans of Nazi Germany for the expansion of its banks and companies into the industrial complex of Slovakia and the whole Central Europe. One of the key conditions for achieving the aims of German capital was participation in the financial system of individual countries by means of bank affiliations. The leading financial institutions of Slovakia came into a conflict of interests with the incomparably larger banking centres of Nazi Germany. German capital, represented by two affiliated banks in Bratislava, entered the process of concentration of finance, and applied economic and political pressure to strengthen their position in the Slovak financial sphere. There was some degree of compromise to demonstrate good will towards allies or vassals. Therefore, banking became one of the few economic fields, where the regime to some extent achieved its aim of nationalizing foreign capital.
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Looking at data for almost forty years shows it as characteristic for consumption and housing investment to be strongly preferred over financial savings in long-term behaviour by Hungarian households, despite major changes in the institutional system. An important role in this is played by the credit supply. Households are also using credit possibilities to increase their consumer and housing expenditures. The strong credit supply has been coupled with a low financial savings rate. This is not unique among European countries, but it may lead to a riskier macroeconomic path.
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