The European level has the power to top up national policy decisions which are deemed insuﬃcient to address financial stability risks. [2] Likewise, banking supervision is a shared responsibility: Even for the systemically important banks which are supervised by the Single Supervisory Mechanism (SSM), national authorities play an important role in on-site supervision.
And, not least, we work closely with our partners in Europe to ensure that statistical reporting of granular data is improved across Europe. [3] These examples show that good analytical skills are key for central banks to play a competent role in the European integration process. Central banks certainly operate in an environment of political discussions on important societal questions.