•  In view of the dynamic ownership structure of our banking industry, entry of foreign players in our market and investment by our banks abroad, it is necessary to take a holistic view and work towards an appropriate supervisory structure (consolidated supervision) to avoid any problem in future.
If a bank fails, it can destabilise markets worldwide and nationally. The stability of the system can only be ensured by global rules, and that’s exactly what the Basel Committee is working on. So once the Committee has concluded its work on Basel III this year, all the major financial markets should implement the new standards – in Europe and elsewhere.