Therefore, efficient supervision at group level should be pursued, through consistent supervisory requirements and approaches and closely coordinated measures to fully exploit synergies. A second consideration is that the supervisory framework in the EU should maintain its effectiveness in safeguarding financial stability in a more integrated banking and financial sector.
When the EU arrangements for financial supervision were established, the underlying premise was that potential disturbances at a bank would remain largely confined to the national level. We all agree that this assumption no longer holds.