Even in cases in which cooperation was thought to have produced a good degree of uniformity in regulatory approaches, national needs and practices prevailed. The “too-big-to-fail” syndrome is currently under discussion in international fora, with various proposed remedies, including the imposition of additional capital requirements and other, more radical proposals for reducing the size and interdependence of group structures with global systemic relevance.
The debate is still just beginning, and the eventual results could have a considerable impact on market integration. The European Commission has worked up a set of proposals to improve cooperation among national supervisors, harmonize crisis management and resolution measures and clarify the standards for sharing the costs of banking crises among countries.