(ii)  Ample use of binding standards in all the more technical matters. Going by the Ecofin Council conclusions, the ESAs can lay down standards for the matters to be specified in Community legislation. From the first stage of implementation of the reform, Community legislation could assign the new European authorities the task of setting standards in the areas with the greatest technical content.
In banking, for instance, the new authority could be empowered to issue binding standards on the definition of capital, capital requirements, risk concentration, limitation of liquidity risk, prudential reporting, methodologies and procedures for prudential controls, and the practical operation of colleges of supervisors.