A framework of higher minimum regulatory capital standards for these institutions was issued by the Basel Committee in November 2011, and indicators of interconnectedness account for a significant proportion of the overall score used to determine whether a bank will be subject to higher standards.
Their customers should be able to send and receive payments across Europe, in line with the principles of the Single Euro Payments Area. Ensuring this reachability is the responsibility of each individual payment service provider, but the Eurosystem is also doing its part to facilitate pan-European reach.