Transition phase to the rescue? In light of these tremendous tasks, many firms and officials seem to be counting on a transition phase that could provide some breathing space for businesses and give them more time for their preparations.
I believe that the report - and, more generally, the monitoring activity of the committee reflected in the report - will bring two main benefits. First, the EU-wide scope of our analysis complements the similar analysis carried out by the competent authorities at the national level with reference to domestic banking systems.