In order to ensure a unified and systemic approach, a unified Department of Supervision (DoS) was created bringing all SEs, namely, Scheduled Commercial Banks, NBFCs and UCBs under one umbrella. Unifying the supervisory functions shall reduce the supervisory arbitrage and information asymmetries across SEs and address the complexities arising from their interconnectedness. This will also help in the holistic understanding of systemic risks.
2  BIS Review 34/2006  The Lisbon strategy The recent call by the European Council to maintain the momentum of the relaunched Lisbon strategy for growth and employment is very important, and has been explicitly welcomed by the ECB.