LEGAL regulation of bank activity in the European Union

The processes of economic integration in Europe entailed the rapprochement of the bank systems of the member states of the European Union; it is possible to speak about the tendency of unification of their bank legislation. The integrated regulation of bank activity ensures financial stability of the European system of central banks and national bank systems; establishes the environment for free rendering of the bank services, as well as for effective bank supervision in the European Union. The bank law of the European Union is the totality of the norms, which regulate the legal provisions of the credit institutions and the order of the bank operations performance at the domestic market of the European Union. The bank supervision in the European Union is oriented primarily on the recommendations of Basel committee on bank supervision.

the European Union, bank activity, prudential regulation, directive, unification of the regulations, licensing, norms, supervision, bank, European system of сentral banks