This success has been sustained by the high degree of integration of the large-value payment systems. The launch of the single technical platform, TARGET2, in November this year will promote further financial integration, in particular through a harmonised service level, a single price structure, and a harmonised set of cash settlement services.
As the member of the Bundesbank Board responsible for banking supervision, I would like to focus my remarks on the role of the credit institutions. II Banking supervisors depend on institutions fulfilling their reporting requirements and deriving the requisite capital adequacy on the basis of reliable accounts.