In both areas, then, knowledge of national and  4  BIS central bankers’ speeches  European markets will be brought together with a single evaluation system, a single supervisory approach and a central, European decision-maker. (3) The third precondition for successful supervision in Europe is that macro-prudential oversight dovetails with micro-prudential supervision.
This is a case of complementing the supervision of credit institutions, which is very much concerned with individual circumstances, with important, well-prepared information that can only be obtained from the perspective of the euro area as a whole, or the global financial system.