Compared to other regions of the world, Europe is thus fairly advanced regarding crossborder policy coordination of macroprudential policy (BIS, FSB, IMF 2016). Coordinating policies is particularly important in Europe because of the high degree of ﬁnancial integration and cross-border activity of banks within the Single Market and the Euro Area.
Another mega financial institution, IDBI has also adopted the same strategy, and has already transformed itself into a universal bank. Now the process of its progeny IDBI Bank merging itself with the parent IDBI is underway, and is likely to be completed soon.