We have to embrace the benefits of supervising banks throughout the euro area according to a set of harmonised standards. At the same time, we have to implement supervisory practices that are proportionate to the special characteristics of individual institutions, and we have to build on the experience and expertise of national supervisors.
BIS central bankers’ speeches  1  With that balance in mind, let us take a tour through the day-to-day operations of European banking supervision and see where we stand. 3. Supervising “significant institutions”  The banks most immediately affected by the new system are the 123 banks that fall under direct ECB responsibility.