Effective supervision is no free lunch; fees will have to be levied on banks. However, there will be efficiency gains from avoiding the duplication of services that provide input to both tasks, so the cost burden for the financial industry will be contained. Despite the potential synergies, the dual role of central bank and supervisor is assumed to involve potential conflicts of interests.
Although, monetary policy and financial stability measures are mostly in accordance, we must take these concerns seriously to stay credible.