Exactly the same is true for national specificities: if national specificities contribute to a more stable banking system, the SSM will be eager to preserve or even promote them. But if national characteristics are only the reflection of unquestioned traditions and regulatory capture, they should be eradicated.
In the last few years, this subject has come to the fore, and a number of committees – the Cadbury Committee, the OECD Code, Combined Code of London Stock Exchange, the Blue Ribbon Committee in U.S, and the Kumara Mangalam Birla Committee in India - why?