Reaction to financial crisis: changes in bank regulation and supervision in the European Union

This thesis presents changes proposed in the European Union as a reaction to financial crisis. The aim of this thesis is to provide a summary and comment of changes both in organisation of supervision and banking regulation, especially concentrating on Basel III and taxation. The first part contains a description of the structure of supervision both in the Czech Republic and in the European Union. The description includes development in the Czech Republic in last five years. The second part contains a description of causes and development of the global financial crisis, defines systemic risk and financial stability and the ways to measure it. The third part describes new structure of supervision in the EU and impact of the change. It also includes a description of Basel III and CRD IV and its impact, discussion of options of taxation in the financial market. The end of this part is a brief summary of changes applied in the USA and its comparison to changes in the EU. The last chapter contains the CNB's position to these changes