In Europe, we have gone one step further in ensuring that banks in the euro area are supervised according to one approach – an essential part of the response to the crisis was to create a single supervisor for the euro area. The single rulebook forms the basis for this supervision. But this rulebook is not as single as supervisors would like.
There are still some important areas in urgent need of harmonisation, not only to ensure a level playing field, but also to promote cross-border banking. 1/2  BIS central bankers' speeches  I will mention just a few: Fit and proper rules are not harmonised at all. Many crisis-related supervisory competences are not harmonised.