In addition to building on the strength of our system of state bank supervisors, we realized that supervising large interstate operations requires different and significantly more sophisticated techniques than we employ for our smaller local banks. For example, our bank examination practices for many years focused on the review of a sizable number of individual loan files at each bank.
And vice versa, especially from the Baltic States, it is possible to enter the EU and the euro area with the Currency Board regime. An example of Latvia, although extreme, says that when in economic policy we have a clear goal (entering the euro area) and all policies should be subordinated to it, then success is guaranteed.