This does not come as a surprise, since prudential supervision philosophies and practices are different in the various countries, not least because of their historical evolution. Still, it is a matter that needs careful consideration in the light of the final objectives.
A not insignificant number of experts expect central banks to withdraw from operational activities in the long term and limit themselves to overseeing private payment and securities settlement systems. Proponents of a less active role for central banks have a motto: “Let the market decide”. They believe that, as public bodies, central banks should concentrate on ensuring an efficient operational framework.