[3]  https://www.rba.gov.au/speeches/2019/sp-gov-2019-12-10.html  7/12  10/12/2019  A Payments System for the Digital Economy | Speeches | RBA  Graph 5  As part of the RBA's monitoring of the marketplace, our staff recently conducted a form of online shadow shopping exercise, exploring the pricing of international money transfer services by both banks and some of the new non-bank digital money transfer operators (MTOs).
I would agree with the bottom line of Mattias Persson’s paper: supervisory structures should follow market structures and not vice versa. Acknowledging that cross-border banking structures in Europe will increase in the future, I also see possible future challenges in supervision arrangements. But, at the current juncture, I would argue that the structures currently in place are appropriate to dealing with regulatory issues.