20 Similarly, Dodd-Frank added “risk to the stability of the U.S. banking or financial system” to the non-exhaustive lists of factors set forth in the Bank Merger Act and the Bank Holding Company Act for consideration by banking regulators in evaluating a proposed merger or acquisition by a bank or bank holding company.
In my opinion, one of these factors may be market expectations concerning the future development of the domestic euro area financial markets. The introduction of the euro, in fact, involves a process of integration of national financial markets of the euro area into an area-wide single market, the size and liquidity of which will exceed that of the constituent markets.