In this sense, you should also note that the term “rules” as contained in the ECB’s definition is used in a broad sense, and includes features such as laws and regulations, supervisory arrangements, market conventions and self-regulation, and standards and practices related to financial infrastructures.
Finally, financial integration can also be fostered by financial institutions establishing branches and subsidiaries in other euro area countries or by two institutions merging across borders. The wide coverage of the ECB’s definition of financial integration is attributable to the fact that if only the first condition is fulfilled, i.e.