I've just returned to Canada from meetings with central bankers in China and Japan. I have also attended meetings in Switzerland, the United States, and Morocco over the past month. And in two weeks, I will head to the United Kingdom.
Even so, there are occasionally calls from some banks to move European supervisory structures in the direction of a “lead supervisor” or even a centralised European supervisory authority to supervise large institutions active throughout Europe. Most European banking supervisors 1 , including the Bundesbank, have tended to be critical of this idea in their initial analyses.