The auditing rights and control options of the banking supervisors must likewise be safeguarded. VI Ladies and gentlemen, irrespective of any new marketing channels for financial services, and of innovative forms of the division of labour by means of outsourcing, in future credit institutions will mould the structure of the banking sector in different ways from in the past.
What I am thinking of is one of the most conspicuous developments in the field of banking, namely the consolidation process. A topical example of that is the recently announced merger of Banca Intesa and Banca Commerciale Italiana (BCI). That merger is intended to create the largest credit institution in Italy, which wishes to establish itself among the Big Banks of Europe.