This stems from the fact that the banking industry is the key channel for the transmission of monetary policy, the counterpart of monetary policy operations, and the main provider of payment services, which all relate to the basic central banking tasks. Therefore, the Eurosystem is keen to see its actions complemented by an effective conduct of the supervisory function by the competent supervisory authorities.
Central banks are keen to be sure that supervision is conducted in such a way as to ensure that banking problems do not jeopardise the conduct of monetary policy. This interest is clearly recognised by the Treaty, which assigns to the Eurosystem and the ECB some tasks relating to prudential supervision and financial stability.