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The subject of analysis in this study is the identification and analysis of the normative framework of a future banking union in the Economic Monetary Union. In this sense of the word, the research emphasis is on the issues concerning the need for establishment of a banking union, the prerequisites that must be met in both the national and the EC law, the advantages and disadvantages of using this supranational coordination mechanism of economic policy and its functions in terms of financial and economic disorders. In next paragraph, attention is paid to the new tasks of the main EU institutions in the process of implementation of the banking union, primarily European Central Bank, European Commission and European Parliament, where a general conclusion notes a need for their active role in implementing the concept of a banking union would not thus preserve legal certainty and to ensure optimal consumer protection, property, rights of depositors and conservation of overall economic stability.

The subject of the analysis in this paper is the analysis and assessment of the regulatory reach of the Six Pack in the monetary law of the European Union. In this respect, the emphasis of the research is on issues related to the need of coordination of the concepts of economic policy of the Member States at the supranational level as a prerequisite for the effective European monetary law and functions and tasks established by the European Semester as the new institutional mechanism of coordination created in the conditions of the global financial crisis. In the further text, the focus of research is on the objectives of the regulations and directive within the Six Pack, which have made the most serious changes to the monetary laws of the Member States and established new competencies of the European Commission and the European Court of Justice in the field of monetary stability, where the general conclusion is the need for their active role in applying the concept of a European semester in order to preserve legal security and ensure the acquest of the international monetary order.

The subject of the analysis in this paper is to identify and evaluate the concept of central bank legal responsibility in the contemporary monetary law. In this regard, the research focuses on issues related to the need of clarifying and defining the nature, type and extent of central bank liability and compensation mechanisms for damage that may be caused to third parties in the implementation of the transferred lex monetae in practice. The first part of the paper focuses on the axiological and dogmatic analyses of the legal framework of the central bank, which is governed by the national monetary legislation sui generis, and the interpretation of different legislative solutions in the practice of comparative monetary law in the area of responsibility and legal protection of the central bank. The subject of special interest of the authors is the monetary-legal analysis of the relevant provisions of the Law on the National Bank of Serbia, since in their opinion, a clear determination of the responsibility of the supreme monetary institution is a precondition for its credibility, not only in national but also in the international monetary order, and a conditio sine qua non of creating a reputable and consistent national monetary jurisdiction.