This work concentrates on the issue of capital adequacy of banks. Inadequate capital base of the banking sector is often referred to as one of the causes of the latest financial crisis. Such topic is currently very actual. Even banking regulators pay high attention to this topic. In my thesis I focus on legal and economic aspects of this topic. It is typical for the banking sector that banks operate with much more leverage effect than enterprises belonging to other sectors. Therefore, I focus on the root cause of this phenomenon in the third chapter. I assess the bank indebtedness using the theory of optimal capital structure and I also address the relations between economic and regulatory capital. In the fourth chapter I focus on the concept of capital adequacy and its comparison with leverage indicator. The next chapter concentrates on the development of regulatory minimum capital adequacy standards developed by the Basel Committee on Banking Supervision, known as Basel I and Basel II. The last but one chapter focuses on the latest regulatory rules Basel III governing the capital adequacy of banks and their legal implementation. Final chapter analyzes the impact of Basel III rules on the capital structure of banks in the European Union and the Czech Republic. A separate part of the chapter is...

in English - Diploma thesis - Filip Košťál The topic of this thesis is "Legal Regulation of Banking Activities". Firstly, the thesis describes reasons and theoretical basis for regulation of banks. Next, the thesis focuses on three levels of regulation of banking, i.e., regulation within the Basel Committee on Banking Supervision, which prepares recommendations, which, however, are mostly followed by regulatory activities at the European Union level. Last but not least, the thesis also focuses on Czech legislation, which is, together with directly applicable regulations of the European Union binding for banks carrying out activities in the Czech Republic. The main purpose of this thesis is to provide the reader with a consolidated insight into all three levels of banking regulation and point out potentially problematic points arising out of it. The thesis also illustrates some of the aspects of banking regulation on specific examples from the Czech banking sector. The abovementioned regulatory measures deal mostly with prudential rules for banks. The thesis, however, focuses also on some other selected areas of banking regulation, namely banking secrecy and its release with regard to credit registers, obligations of banks arising out of the act on selected measures against legitimisation of...

Banking crisis and following sovereign debt crisis are the cause of some changes on the financial market. This thesis is mainly focused on the debt crisis and its impact on financial sector stability. Roots, consequences and probable solutions of the debt crisis are also examined. Among analysed solutions were included proposals for financial transaction tax, stability bonds and regulation under new concept of CRD IV, bail-in and federalization of the eurozone. Analysed are also ratings, fiscal policy and optimality of the euro currency areas and its impact on stability of financial institutions. According to results, some proposals could be contrary to each other if implemented in its present form. Or it can increase moral hazard of financial institutions. Another consequence is establishment of new regulations. On the other hand, positive is that financial institutions have endured the sovereign debt crisis.

Främsta anledningen till att kontant rörlig ersättning existerar är för att motivera ledningen till att arbeta mot aktieägarnas främsta mål, vilket är en ökad avkastning  (Kaplan & Atkinson, 1998). Dock kan en rörlig kontant ersättning resultera i att ledningen endast arbetar efter kortsiktiga mål vilket kan leda till ett högt risktagande och är därmed riskfullt för företaget (Jacobsson, 2010). Den 1 januari år 2010 gav därför Finansinspektionen ut nya regler, FFFS 2009:6, som innebar att för anställda som har inflytande över ett företags risknivå ska minst 60 procent av deras rörliga ersättning betalas ut efter tre år eller mer. Finansinspektionen ger även ut nya regler, CRD III, som är mer preciserad om den rörliga ersättningens form och träder i kraft 1 januari 2011. Vårt syfte med denna uppsats är att bidra med en förståelse om hur Finansinspektionens implementering av FFFS 2009:6 och CRD III påverkar de institutionella aktieägarna till att få ledningen att arbeta mot institutionella aktieägarnas mål om en ökad avkastning. Resultatet visar indikationer på att de nya reglerna från Finansinspektionen leder till att styrningen genom kortsiktig rörlig ersättning begränsas men att det istället uppkommer en ökad kontroll från institutionella aktieägarna. Den ökade kontrollen uppkommer eftersom reglerna bidrar till en ökad transparens och insyn i företagen. Företagen måste även se till att finna nya egna sätt att motivera ledningen och anpassa dessa efter dess företagskultur. Det är även viktigt att ifrågasätta ifall Finansinspektionens nya regler gällande rörlig ersättning verkligen leder till en långsiktig nytta som överstiger de kostnader som uppstår i och med implementering av nya regler.

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.

The theme of this thesis is the financial sector regulators' response to the recent financial crisis. The aim of the thesis is to evaluate new approaches to financial sector regulation and to answer the question whether financial regulators could learn from their past experience. The introductory section is devoted to a brief study of the reasons for the crisis and mistakes on the part of regulation and supervision. The analytical part deals with the analysis of the most significant changes in the regulation of the financial sector, which were a reaction to the financial crisis: the reform of supervision in the European Union, especially the new architecture of the supervisory and management approaches used for banks in crisis, changes of CRD and the taxation of financial institutions.

<p>Immunoglobulin E (IgE)-mediated allergy occurs when our immune system causes a reaction to otherwise harmless substances (allergens). Allergens are predominantly proteins present in biological materials such as pollens, mites, animal epithelia, moulds and foods. </p><p><i>In vitro</i> tests for specific IgE antibodies usually employ an allergen source extract as an antibody capturing reagent. The proportion of allergenic molecules in these biochemically complex extracts may vary.</p><p>Recombinant allergens may be obtained in large quantities with biotechnological techniques. These proteins can be characterized biochemically and immunologically, resulting in tests with minimal batch-to-batch variation. This thesis describes different uses of recombinant allergens in component-resolved diagnostics (CRD).</p><p>In CRD, single allergenic proteins are used to establish a sensitization profile of the patient. Two timothy grass (<i>Phleum pratense</i>) pollen allergens, Phl p 11 and Phl p 4, were cloned and expressed as recombinant proteins. They were subsequently characterized and can, for example, be used in a panel for grass pollen CRD.</p><p>Single allergens may be useful as diagnostic markers for allergic sensitization. This phenomenon was studied using tropomyosin, a major allergen from the shrimp <i>Penaeus aztecus</i> (Pen a 1). The characteristics of the recombinant and natural proteins were compared. The recombinant tropomyosin was then extensively tested using specific competition for IgE binding against extracts of other crustacean species, house dust mite and cockroach.</p><p>In cases when an important allergen is missing or underrepresented in a natural extract, the corresponding recombinant allergen may be added to the extract as a spiking reagent. Previous studies have shown that latex extracts for diagnostic testing may lack the allergen Hev b 5. Recombinant Hev b 5 was expressed from a synthetic gene construct, incorporating several adaptations to enable efficient large scale production of the recombinant protein, to be used as a spiking reagent.</p>

Immunoglobulin E (IgE)-mediated allergy occurs when our immune system causes a reaction to otherwise harmless substances (allergens). Allergens are predominantly proteins present in biological materials such as pollens, mites, animal epithelia, moulds and foods. In vitro tests for specific IgE antibodies usually employ an allergen source extract as an antibody capturing reagent. The proportion of allergenic molecules in these biochemically complex extracts may vary. Recombinant allergens may be obtained in large quantities with biotechnological techniques. These proteins can be characterized biochemically and immunologically, resulting in tests with minimal batch-to-batch variation. This thesis describes different uses of recombinant allergens in component-resolved diagnostics (CRD). In CRD, single allergenic proteins are used to establish a sensitization profile of the patient. Two timothy grass (Phleum pratense) pollen allergens, Phl p 11 and Phl p 4, were cloned and expressed as recombinant proteins. They were subsequently characterized and can, for example, be used in a panel for grass pollen CRD. Single allergens may be useful as diagnostic markers for allergic sensitization. This phenomenon was studied using tropomyosin, a major allergen from the shrimp Penaeus aztecus (Pen a 1). The characteristics of the recombinant and natural proteins were compared. The recombinant tropomyosin was then extensively tested using specific competition for IgE binding against extracts of other crustacean species, house dust mite and cockroach. In cases when an important allergen is missing or underrepresented in a natural extract, the corresponding recombinant allergen may be added to the extract as a spiking reagent. Previous studies have shown that latex extracts for diagnostic testing may lack the allergen Hev b 5. Recombinant Hev b 5 was expressed from a synthetic gene construct, incorporating several adaptations to enable efficient large scale production of the recombinant protein, to be used as a spiking reagent.

The theme of this diploma thesis is the capital adequacy of Czech banks in the context of macro-prudential policy. The aim of this diploma thesis is quantitative and qualitative analysis of the capital ratios of the Czech banking sector in the context of Basel III and CRD IV capital regulation. The work for the selected period analyzes the development of the capital structure of the Czech banking sector as a whole and for individual segments of banks. The work also focuses on the determinants that influenced the capital changes in addition to the change in the volume of capital itself. The resistance of the banking sector to the unfavorable development of the financial system is analyzed through the stress tests of the Czech National Bank.