In this way supervisors and central banks could approximate the potential systemic impact of the scenario selected. Banks would benefit as well from such an exercise through benchmarking and learning effects. Cooperation between central banks and supervisors Let me then turn to the last topic I would like to touch upon, namely the cooperation between central banks and supervisors.
BIS Review 82/2005  1  The institutional framework The Eurosystem institutional set-up involves centralised decision-making on monetary policy issues and decentralised implementation of those decisions. I can assure you that the Central Bank of Ireland plays an important role in both areas. One of the features of the Governing Council is the democratic way in which it goes about its business.