I will focus on the envisaged framework for macro-prudential supervision, as outlined in the two  1  In the euro area, the largest 30 cross-border banking groups accounted for 73% of euro area total bank assets at the end of 2007.
Banks should refocus on their core functions: •  providing valuable investment opportunities to savers, while shielding them from liquidity risk, and  •  providing funds to those who need them, while assessing and monitoring their creditworthiness. Financial intermediation is not simply a way to garner revenues; it also supports economic growth and thus, ultimately, provides an important service to society.