Ladies and gentlemen, supervisors naturally need to figure out how to react to these changes. This also involves coming up with an adequate prudential supervisory structure for Europe. Europe’s current banking supervisory structure rests on three pillars: •  harmonised regulations with mutual recognition;  •  national responsibility for prudential supervision; and  •  cooperation and coordination.
In this month a gust of Italy seems to have blown across Frankfurt (thanks, too, to the coincidence that the cultural events happened to be held at the same time as the installation of an Italian president in the Eurotower).