g)  While undertaking insurance distribution business, either under the corporate agency or broking model under the relevant IRDA Regulations, banks were directed to put in place a system of assessment of the suitability of products for customers, and classify products into universally suitable products and complex products which necessarily require customer need assessment prior to sale.
Aside from a single currency with a single central bank and a fiscal brake (the SGP), monetary union initial institutional architecture was minimalist: governance of economic and financial policies remained firmly a national competence as countries were supposed to ensure the “shock-absorber” function on their own. There was no framework to deal with the build-up of systemic risks.