Our analysis concludes that the findings of the broad-based review of the EU supervisory framework by the end of this year will permit the evaluation of the overall functioning of the institutional arrangements and an assessment of whether there is a need for further action.
The third special feature, “The Single Euro Payments Area (SEPA) and its implications for financial integration”, considers the European banking industry’s initiative to enhance the integration of retail payment systems in Europe. The Eurosystem supports this initiative and acts as a catalyst.