This caveat notwithstanding, the available empirical evidence suggests that MAP tools do have some effectiveness.5 Moreover, recent research conducted at the Bank of Italy  2  These countries experienced both time-varying and structural measures.
2  BIS central bankers’ speeches  We are already seeing the benefits of the new regime in our day-to-day business. There are 123 mixed joint supervisory teams – or JSTs for short – for the banks directly supervised by the ECB. Bundesbank supervisors belong to 22 JSTs for German banks and to 12 host JSTs for foreign banks.