The Deutsche Bundesbank is not against an integrated supervision with banking, securities and insurance supervision under one roof. However, it must be able to continue making a contribution to systemic stability within the European System of Central Banks. The Bundesbank’s “invisible assets” such as experience and knowledge of the big internationally operating institutions are indispensable for the evaluation of systemic risks.
The proposals which the Federal Government presented last week are moving in the right direction. Some remaining issues need to be clarified and settled during the legislative process. Thank you for your attention. BIS Review 53/2001  3