In particular, it has shown the need to ensure that the central banks, which are responsible for supplying the markets with liquidity, especially in emergency situations, have all the necessary information at their disposal in order to assess the capital adequacy and sound balance sheets of their counterparties. The ECB had drawn attention to this in the past.
6 Finally, the supervisory authorities appear less protected than the central banks from external pressures, which aim to reduce their decision-making autonomy. The concept of independence, which has been developed for monetary policy, is however not easily extendable, merely via regulations, to the supervisory authorities. This, however, also applies to the problem of accountability.