Joint Supervisory Teams will be established that will integrate ECB and national competent authority (NCA) staff into single supervisory units responsible for the conduct of the on-going supervisory activities and for preparing supervisory decisions. The Teams will be established and coordinated by ECB; there will likely be one Team for each significant banking group, but tailored to the needs of each banking group (proportionality).
Household income, which underpins domestic demand, continues to be supported by high levels of capacity utilisation and further improvements in labour markets. The unemployment rate declined to 8.1% in September 2018, which is the lowest level observed since late 2008, and employment continued to increase in the third quarter.