MODERN TRENDS OF LEGAL DEVELOPMENT OF THE BANKING SYSTEM OF CENTRAL-EASTERN EUROPEAN COUNTRIES

Abstract

The article explores that the important scientific and practical task of the modern stage of development of world civilization is the globalization of all spheres of public life — cultural, information, and economic. One of the components of the globalization of the economy and one of the highest stages of globalization is the globalization of the world banking system. Banking sector is one of the key factors ensuring stable economic development of the country. Transparency, reliability, resistance to fіnansovo-economic shocks, a temple urіven depositor confidence — a characteristic feature of the banking systems of countries with developed economy.It is determined that banks should be considered as an important part of business, business world. They accumulate cash, provide loans, make cash settlements, issue currency trademarks, serve securities markets, and provide various economic services. Banking in the capital of the Central Bank of the European Union originated and developed on the basis of capital that brought interest. Even at the formation of the primitive communal system used usurious capital. Rich representatives of the top government were lending money. The development of usurious capital and initiated a banking business.In antiquity, there were some institutions that performed the functions of banks. In the historical literature, there are indications that the banks functioned in Poland, the Czech Republic. They performed a variety of operations — from commission operations for the purchase, sale and payment at the expense of customers to the issuance of loans and acted as guarantors and trustees in the implementation of various acts and transactions. Thus, the origins of modern banking can be seen in the activities of banks in the old days. It is noted that by the end of the XIX — early XX centuries. In the years of its existence, the multi-faceted credit system was formed. Public and private banks served, mainly, large borrowers; the credit needs of the small clients were managed by an extensive system of small loan applicants, whose resource base was formed, including at the expense of the State Bank. This model of functioning of the credit system is reflected and at the present stage of development, as the most suitable for the needs of all categories of borrowers, adequate to the transitional type of economy and which most contributes to the economic development of countries.