Regulation and supervision is being strengthened to make the future of the banking system more stable and less crisis-prone. On 4 November, the European Central Bank assumed responsibility under the Single Supervisory Mechanism for supervising 8 banks in Slovenia accounting for more than two-thirds of the market share. The supervisory culture will change under the new regime.
‘Tapering talk: the impact of expectations of reduced Federal Reserve security purchases on emerging markets’. World Bank Working Paper No 6754 1  Page 6 of 11  One of the clear lessons of the 2013 episode was that the emerging markets are not immune to monetary-policy developments in the advanced economies.