We will formally issue a legal opinion in which we will, in particular, take into account the following principles: a clear and robust separation between supervisory decision-making and monetary policy; appropriate accountability channels; a decentralisation of tasks within the SSM; an effective supervisory framework ensuring coherent oversight of the euro area banking system; and full compatibility with the Single Market framework, including the role and prerogatives of the European Banking Authority.
To conclude, I would say that programs like these are very useful towards acquiring requisite skill sets as the participants also get to learn from practical experiences of fellow practitioners. I once again thank Shri Gopalakrishna for inviting me here this morning and wish the rest of the Seminar all success. 1 pib.nic.in/newsite/PrintRelease.aspx?relid=148097  5/5  BIS central bankers' speeches