PROBLEMS OF BANKING LEGAL RELATIONSHIPS

Stanislav Ivanov (), Yuliia Hromenko () and Valeriia Rodina ()
Additional contact information
Stanislav Ivanov: Kharkiv National University of Internal Affairs, Ukraine
Yuliia Hromenko: Donetsk Law Institute of the Ministry of Internal Affairs of Ukraine, Ukraine
Valeriia Rodina: Donetsk Law Institute of the Ministry of Internal Affairs of Ukraine, Ukraine

Baltic Journal of Economic Studies, 2018, vol. 4, issue 5

Abstract: In modern conditions of management, the aspects of ensuring the stability of banks and the development of the banking system of Ukraine are of particular importance. During 2014-2017 in our country, 88 banks were recognized as insolvent, almost all of them - commercial. This tendency is disappointing. Most scholars assert that the turnaround of the banking system is possible only through the improvement of deposit, credit, and settlement operations. This statement is undoubtedly true, but these scholars forget about the importance of regulating the legal relationships that arise in the banking sector and establishing the interaction between the entities of such legal relationships. The purpose of the research is to determine the essence of banking legal relationships in Ukraine based on the existing scientific approaches, the current legislation of Ukraine and the practice of its implementation, as well as the specific and problematic aspects of harmonizing the interests of the entities of the relevant legal relations. For this purpose, the essence and structure of banking legal relationships are considered. It is determined that the main structural elements of these legal relationships are: 1) objects, 2) the content of banking legal relationships, 3) the basis of banking legal relationships - legal norms and legal facts, 4) entities (participants) - the direct participants in banking relationships, the bearers of mutual rights and obligations. The conclusions of the article state that Ukrainian banking legislation requires a serious revision concerning the coordination of the interests of the entities of banking legal relationships. The key task is to eliminate unnecessary and outdated normative and legal acts that could cause legal confusion or impose excessive burdens on entities of banking legal relationships. In developing the modern regulatory framework for the interaction of entities of banking relationships, a new rapid spread of cyber-risks, compliance risks and financial crime risks, which significantly affects the state of the banking system and is not reflected in the current banking legislation of Ukraine, should be taken into consideration. Banks as the main entities of banking relationships should assume risks and financial responsibility. It will contribute to the stabilization of the banking system of Ukraine and the economic development of the national economy.

Keywords: bank; banking service; entity; legal relationships; banking system; interests (search for similar items in EconPapers)
JEL-codes: G21 K30 (search for similar items in EconPapers)
Date: 2018
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.baltijapublishing.lv/index.php/issue/article/view/542/pdf (application/pdf)
http://www.baltijapublishing.lv/index.php/issue/article/view/542 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bal:journl:2256-0742:2018:4:5:16

DOI: 10.30525/2256-0742/2018-4-5-94-99

Access Statistics for this article

Baltic Journal of Economic Studies is currently edited by Anita Jankovska, Managing Editor

More articles in Baltic Journal of Economic Studies from Publishing house "Baltija Publishing"
Bibliographic data for series maintained by Anita Jankovska ().