And while we ensure a strict separation between monetary policy and banking supervision, both these areas of activity will be able to rely on the accumulated expertise in shared services areas and of course be inspired by the European spirit that guides our work. The SSM is also benefiting from the experience and resources of the national authorities. We have combined all these strengths.
They make up our DNA. We are however creating something new. The SSM creates the institutional conditions for overcoming fragmentation in supervisory practices and allows us to define a single model. We are establishing common methodologies, a joint culture, a shared reputation. They will ensure that we have the right instruments and incentives to effectively carry out our supervisory tasks.