The Federal Reserve has used stress testing and its broader supervisory authority to prompt a doubling over the past four years of the common equity capital of the nation’s 18 largest bank holding companies, which collectively hold more than 70 percent of the total assets of all U.S. bank holding companies.
Financial integration is essential to making Europe stronger, so it is very important to the ECB’s Governing Council. We are fully committed to making it happen, especially at a time when the fragmentation of the single financial market has led to fragmentation of the single monetary policy.