The centrepiece of the supervision of significant banks will be the Joint Supervisory Teams, responsible for the day-to-day oversight of these banks. These teams will be made up of specialists from the ECB and from the national authorities, under the leadership of a coordinator designated by the ECB, and a sub-coordinator designated by the national supervisor. Approximately 75% of those making up the teams will be drawn from and designated by the national supervisors; in the case of Spanish banks, it will of course be staff from the Banco de España. Inspection visits to significant banks, what is known as on-site inspection, will continue to be conducted by the national authorities, and their results will be passed onto the ECB for the adoption of the appropriate measures. With regard to the less significant banks, national authorities will continue to directly supervise them as they have to date. Over 3,600 banks across the euro area are involved here. The ECB will define common practices and criteria, it will monitor the actions and position of these banks and it will always be entitled, if it considers it necessary, to re-claim direct supervision over any of these banks. 2  BIS central bankers’ speeches  The competences and responsibilities of the Banco de España in the framework of the new Mechanism I would now like to address the competences and responsibilities of the Banco de España, as a national supervisor, under the new Mechanism.
Anita Angelovska Bezhoska: Opening address - Fifth Meeting of the Regional Working Group for Financial Education of Southeastern Europe Opening address by Ms Anita Angelovska Bezhoska, Governor of the National Bank of the Republic of North Macedonia, at the Fifth Meeting of the Regional Working Group for Financial Education of Southeastern Europe, Skopje, 27 September 2019. * * * Distinguished representatives of the central banks, Dear representatives of international institutions, Dear guests, ladies and gentleman, It is my great pleasure to give the opening address at the Fifth Meeting of the Regional Working Group for Financial Education of Southeastern Europe, hosted by our national bank. I am more than certain that joint fora, such as this one, are important venue for raising our awareness and knowledge on matters of mutual interest. And, there is no dilemma that financial education, as a spotlight of this working group, is an issue of mutual interest gaining prominence and importance among all stakeholders – central banks, regulators, financial services providers, consumers. We are all faced with rapidly evolving financial landscape, in which being knowledgeable means being capable of reaping the benefits and mitigating risks. Now allow me to shed some light on a couple of important dimensions such as relevance of the financial literacy and the benefits it brings to the society, the specific circumstances that brought this issue to the fore in the last decade, the role played by the central banks in this segment, the current state and the challenges ahead for the region and our country.