Indeed, in a vast part of the world where central banks are assigned numerical objectives for price stability the stabilisation horizon is not defined in rigid calendar-time form, but is left rather flexible for central banks to determine according to the nature of shocks that cause inflation to deviate from target.
Further progress on the banking union could also provide a rationale for recognising that cross-border lending activities within the banking union would benefit from a unified cross-country supervisory setup and could therefore be treated like within-country lending under the framework for Global Systemically Important Banks.