The last decades, in particular, have witnessed a tightening of the trade and financial linkages and the bilateral relationships between the United States and the euro area have been reinforced. As a result, central banks worldwide, and in particular the Federal Reserve and the Eurosystem, always keep an eye on partners’ economic, monetary and financial developments.
The crisis management and resolution framework, also embedded in the revised legislation, will ensure a reliable safety net for customers in the event of a banking crisis. The deposit insurance scheme and the centralised KYC will be rolled out in the near future.