HARMONISATION OF THE LEGAL FRAMEWORK OF THE DEPOSIT INSURANCE SYSTEM IN SERBIA WITH THE EUROPEAN UNION ACQUIS

The Deposit Insurance Act has been harmonised successively since 2008, initially with Directive 94/19/EC, then with Directive 2009/14/EC, and following its repeal, with Directive 2014/49/EU. The purpose of this paper is to provide the reader with insight into the harmonisation process of the legal framework governing the deposit insurance system in Serbia with the corresponding EU legislation. This pro- cess will be presented chronologically, with an analysis of the immediate triggers and the objectives the legislator intended to achieve. The paper will focus on the most important provisions of the European deposit insurance regulations and the feasibility of their implementation in Serbia, taking into account the actual condi- tions of the banking market. Finally, the paper will present the concept of possible future directions for enhancing European regulations on crisis management in the banking system.

Keywords: deposit insurance, Deposit Insurance Act, EU Directive on Deposit Guarantee Schemes, harmonisation with the EU acquis