55. We are setting the scene to move to the next stage which will entail making still greater use of electronic money. Unfortunately, we have failed to make any progress with the NPS – on which we have been engaged since 2009 and to which I alluded in my 2010 Letter to Stakeholders.
When the ECB will assume its supervisory tasks next year, it will have two clearly separated functions – monetary policy and banking supervision. Another important pillar of the banking union is the Single Resolution Mechanism. As you know, intensive talks have been going on among Member States on this field.