At first sight, this evolution runs counter to the need for a larger involvement of NCBs in prudential supervision. However, in this field implementation details are crucial. In particular, it is crucial that effective provisions for a close co-operation and a smooth exchange of information between the separate supervisory authority and the NCB are laid down.
NCBs should in any case be entrusted with the task of safeguarding financial stability of the system as a whole and endowed with the instruments needed to pursue such an objective effectively. In this respect, an extensive operational involvement of NCBs in the conduct of prudential supervision is a key factor.