3  ESRB (2014) Is Europe Overbanked? Reports of the Advisory Scientific Committee No. 4/June 2014. 2  BIS central bankers’ speeches  [Slide 19 – Rationale for mandatory separation] 1. We wanted to limit the spill-over of benefits from the deposit guarantee system and any implicit government guarantees to certain trading activities of banks.
Concerns relate to continued strong monetary and credit growth, which reflects the sustained stimulative effect of the historically very low level of interest rates in the euro area.