Integration of the system of cooperative credit is in the interest of the cooperative banks themselves, to ensure that cooperative and mutual banks can continue to operate independently in an environment requiring rapid provision for the needs for recapitalization and efficient management, and in the light of the narrower margins for intervention at troubled intermediaries. 6  BIS central bankers’ speeches  4.
Conclusion  In recent months the European Central Bank, in keeping with its mandate, has dealt effectively and flexibly with the pressures towards the fragmentation of the European markets and with the emerging threat of deflation, preserving the stability of the euro area.