By protecting depositors and counterparties, they also reduce, if not eliminate, much of the market discipline that constrained risk-taking by nineteenth-century banks.
Assessments are made applying common definitions, abolishing - or at least showing explicitly – any diverging national interpretations. 2  BIS central bankers’ speeches  •  Sufficient corrective measures can be guaranteed as the ECB in its supervisory role will have all the necessary supervisory powers.