3  accounts for around 15% of the total portfolio of dinar government securities. Apart from the decline in the risk premium and financing needs of the country, monetary policy easing also contributed to a sizeable reduction in interest expenses and thereby to a better fiscal result.
As I see it, excessive harmonisation or even complete standardisation of supervisory rules and practices would go beyond the current reality of market structures in Europe, especially in retail banking. Completely harmonised products in the mortgage lending sector, for instance, would be the wrong approach. In Germany, fixed-rate mortgage loans combined with prepayment penalties are an established practice for which there is a demand.