Time will tell whether this structure truly helps to avoid conflicts of interest between monetary policy and banking supervision or whether it might have been better to create an independent banking supervisor. 4. Conclusion  Ladies and gentlemen European banking supervision certainly represents the biggest step towards financial integration in Europe since the launch of the euro.
And, to me, it is the most logical step to  BIS central bankers’ speeches  3  take. Single monetary policy requires integrated financial markets – which includes, without doubt, European-level banking supervision.