If, in future, once we have a truly European financial system, we will take steps towards a single supervisory structure. Those steps could probably start with the large, internationally operating, European banks. In Germany, the government has recently drafted a bill on a new framework for financial supervision.
The future "Federal Authority for Financial Services Supervision" will combine, under one roof, the supervision of banks, insurance companies and other financial institutions. The Bundesbank’s role in the supervision of banks will be enhanced under the new law.