This is an attempt to make a truly pan-European proposal, coming from Budapest. Sorry for writing in English, German is bit too schwer for me. Most large European banks, including large many Austrian banks, operate in Europe, so we need a European Financial Supervisory Agency to effectively supervise them. Banks with subsidiaries or branches in other EU countries or outside the EU would need a European banking pass and would automatically come under the EFSA. This would make their supervision more effective. Banks with a European banking pass would participate in a European deposit insurance (EDI) scheme, and the EFSA could draw on a European Financial Rescue Fund (EFRF) if a rescue operation is needed. The EDI would be financed by contributions and the EFRF by national budgets according to the shares of their banks participating. EFSA would be a European Agency, with its own staff and budget covered by the EU budget. That is, finally, we would have a proper European institution to supervise European banks, like in the US. It works there, it would work here. Simple and cost efficient, so vote for it.