It will be particularly important to strike the right balance between ensuring fair competition by treating the same risks equally and, at the same time, allowing for varying market and banking structures as far as these cater for the heterogeneous needs of the real economy. However, this supervisory approach must not exist only on paper, but must also be infused with life.
I see ESE as playing an important role here. ESE can support us supervisors in conveying the new supervisory standards and thus make a crucial contribution to consistent and high-quality supervisory practice in the SSM. As supervisors in a system currently encompassing 17, and soon 18 countries, however, we need not only technical expertise but also communication and teamworking skills.