This is of great interest to central banks, not least because we use the knowledge gained from research as an input in our monetary policy decisions. Allow me to discuss two relevant cases in which current events have stimulated research.
This would enable a creditworthy firm or household to get a loan from any bank in the Union at comparable conditions – and location considerations would not be predominant. In this way Banking Union is a central safeguard against fragmentation. Banking Union will also be pivotal for the smooth functioning of Monetary Union because it will help to repair the monetary policy transmission mechanism.