*  *  *  Mr Chairman, Members of the Joint Committee, Thank you for the opportunity to share with you my experience as Deputy Governor for Financial Regulation since I joined the Central Bank of Ireland.
Third, we expect supervision to be practiced with a European view as stated explicitly in the regulation, which will make liquidity between countries more fungible. We saw during the crisis that some supervisors required their banks to match national assets with national liabilities, which had the effect of fragmenting the Single Market.