European Central Bank Executive Board member Frank Elderson stated in an interview with Die Presse that the biggest obstacle to European bank competitiveness is fragmentation, not the cost of regulation. He called for completing the Single Market, the savings and investment union, and the banking union to foster integration. Elderson also supported more proportionate supervision, proposing to raise the total asset threshold for small and non-complex banks from €5 billion to €10 billion, which would benefit approximately 150 additional banks.