We have to assure our internal balance of powers. Again, this is not meant as a subtle reach for national privileges but  BIS central bankers’ speeches  3  instead as a call for institutional diversity. This is not to be confused with harmonised supervision, which remains ever paramount.
Importantly, institutional diversity can only be maintained if national supervisory authorities have a meaningful voice in the process. Diversity cannot be maintained by itself. It needs to be actively promoted via the SSM governance culture. 5. Conclusion  The SSM has gained a reputation as a tough but fair supervisor. I have argued for the preservation of its network character.