Thus, despite all efforts, there are still prudential supervisory areas where rules have not yet been harmonised, such as liquidity regulations. The European regulatory framework for prudential supervision rests on the setting of minimum standards. This leaves room for individual nations to implement and apply these standards in conformity with their special situations.
However, particularly this variety of supervisory practices may have an impact on competition. The aforementioned continued harmonisation of supervisory practices is therefore of high priority and is being undertaken with vigour. Critics have also indicated certain competencies as being a weakness of the system.