Mr. Aidan Carrigan:

Single supervision must be complemented by a single rule book across Europe to make sure the same rules are applied in calculating risks, risk weightings and asset values. A key role of the European Banking Authority is to bring forward a single rule book for all 27 Members on how to calculate assets etc. The capital requirements directive is also setting new standards of governance to be met by banks across Europe. Between the single rule book of the EBA and the directive it is anticipated that the single supervisory mechanism will apply clearly defined consistent standards across Europe.