The parent banks must complete a difficult transformation over the next few months to enable them to head very large and 7  complex groups. Extensive discussions are already under way with the supervisory authorities, which will need to approve the main contractual clauses: by-laws, cohesion contracts and crossguarantee schemes.
The process must now continue apace: organizational and decision-making mechanisms must be strengthened, senior management must possess high levels of competency and professionalism, and the steps needed to integrate IT systems must be rigorously planned.