•  From my point of view, strengthening the role of the consolidating supervisor as originally proposed in the amendments of the Capital Requirements Directive (CRD) is not the right way forward in developing EU supervisory regimes. The strengthened consolidating supervisor, or “lead supervisor,” would hinder the development of an EU-wide supervisory approach, and lead to group-specific and fragmented supervisory regimes.
Credit institutions would be faced with an unlevel playing field, since they would conduct business on the same local markets but be subject to different supervisory regimes. Moreover, the lead supervisor approach would not take into account the interests of local supervisors and governments.