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We will soon see evidence of whether bank power has dipped.
The finance minister, Alexander Chikwanda, recently signed a law giving the central bank power to monitor cross-border capital.
Wells Fargo executives said the strength of other parts of their franchise, like their retirement business and corporate bank, helped the bank power through a difficult business environment.
The split highlights the difficulty Mr. Trichet faces in presenting a unified front and ensuring that markets remain in awe of central bank power.
Looking ahead to a meeting next Thursday of the European Central Bank's governing council, Mr. Hollande also noted that European Union leaders had agreed to grant the central bank power to intervene in the financial markets "in exceptional circumstances".
The narrow is whether a cut in interest rates is going to boost lending in Europe; the wider is whether we are seeing the limits to monetary policy, or you might say, central bank power.
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A strategic investment bank, powered by the public cash usually used to patch up our decrepit banking system, would be in the genuine national good.
WP: Over the past seven or eight years, central banks around the world have engaging in unconventional monetary policy, testing the limits of central bank powers.
And since the Fed chairman, Paul A. Volcker, has also supported bank powers to underwrite mutual funds, any action the Fed takes in that direction tends to create concern.
Even though the European Commission's proposal for a banking union is a big leap, it does not grant the central bank powers on a par with those of United States banking authorities like the Federal Deposit Insurance Corporation.
The proposals would also give the central bank powers to take away banking licenses, to require lenders to increase their capital and to levy fines on lenders that break the rules.
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