Speed in putting corrective regulatory measures in place Issues such as the large size of mega financial institutions and adequate capitalization in the financial industry remain matters which need to be addressed as a matter of urgency. While these matters have been flagged, actual corrective measures have not been put in place with a long term perspective, but have been mostly stop-gap measures.
The so-called ‘systemic risk’ is therefore no longer confined to one Member State but has to be looked at from an EU-wide perspective. The role of the Committee of European Banking Supervisors to enhance the cross-border exchange on individual institutions is therefore certainly important. At the same time, the CEBS’s work is complemented by that of the ESCB’s Banking Supervision Committee.