Model of regulation of financial institutions - case of Serbia

Abstract

The financial services sector has been experiencing turbulent changes during the last few years. Financial institutions have found themselves in the maelstrom of the global financial crisis. They are among those who are responsible for the crisis, but they have at the same time suffered great consequences. The crisis showed that the financial institution regulation process has shown significant shortcomings. A financial services regulation reform is an unavoidable process if the goal is to eliminate the cause of the problems of the last global crisis. In this context a very important issue is how to organize the financial institution regulation in Serbia, a developing country in which a stable financial services sector and successful and secure financial institutions are crucial for that very development.