See the ECB’s website under Publications > Publications by activity > Financial stability and supervision. With regard to the supervisory framework, the policy objectives are twofold. First, in order to realise economies of scale and scope, the framework should facilitate the development of cross-border consolidation of financial institutions and the cross-border exchange of services and products.
The second objective is to maintain the effectiveness of supervisory standards and action in a more integrated financial system. The current institutional set-up, and in particular the Lamfalussy framework, provide the appropriate structure for achieving these broad policy objectives, if it is used to the maximum extent possible. This entails pursuing two operational goals.