Since the 2008 global financial crisis, financial fragmentation has become an increasingly common feature across international markets, characterised by drastic decreases in cross-border holdings and by strong disparities among banks’ core credit spreads, especially within Europe. While fragmentation can sometimes benefit some individual countries on the national level in the short-term, it is harmful to global economic recovery and stability in the long-term. The OECD Committee on Financial Markets met with representatives of the financial services sector on the occasion of the OECD Financial Roundtable on 17 October 2013, where the discussion focused on the status and key drivers of financial fragmentation, as well as the measures to cope with it. In follow-up, this BIAC paper contributes key considerations which the authors believe should be taken into account in OECD work in this area.