But I do recall that the ECB took a position in 2001 on the fundamental role of central banks in prudential supervision, stressing the importance of confidential supervisory information in the conduct of central banking functions.
2 The recent financial market turmoil has confirmed the importance of a smooth and efficient relationship between the central banking and supervisory functions; it has also led to a debate about a reform of the current supervisory structure in some countries such as the UK and the US.