Of course, these findings cannot be applied exactly to Europe. Moreover, deregulation and the removal of legal barriers is a necessary, but not a sufficient, condition for more integration, as there remain other obstacles, not least those of a prudential or tax nature.
In the first instance, we can say that the CEBS has contributed significantly to the preparation of an impressive set of supervisory guidelines which are relevant in general but in particular for the activity of cross-border banks.