Mr. Marco Buti:

The decision not to deploy typical supervisory tools such as the ones the Senator has indicated, lacked attention on the part of the supervisor at the time. I think here it has been well established by previous testimonies. This, as I said, was part of the responsibilities of national supervisory authorities. As the Commission we did not have a remit to cover this. Now at EU level with the establishment of the single supervisory mechanism, within the banking union there is the possibility of taking a broader view and we focus now, with the experience we have, much more on macro-prudential so the systemic risks for the banking system and financial system as a whole, not only on a bank-by-bank approach that we had at the time. This was the responsibility of national supervisors not of the Commission.