Although we have a Single Supervisory Mechanism in Europe under which banks are supervised according to uniform European guidelines and harmonised rules, as well as a Single Resolution Mechanism to go with it, the financial situation of the supervised institutions hinges on the state of the economy, as well as, of course, the legal framework of the affected country.
Far from being lightened, the burden of prudential authorities is becoming heavier. The necessarily limited human and financial resources of these authorities will be called upon all the more by the new Basle proposals which will require a more individualised and detailed surveillance of these new internal risk management systems.