 Critics have stated their concerns that this mechanism will result in sovereign states' taxpayers' money being used to pay off other nation's bank failures.The SRM allows for troubled banks operating under the SSM (as well as other cross border groups) to be restructured with a variety of tools including bailout funds from the centralized SRF, valued at at least 1% of covered deposits of all credit institutions authorised in all the participating member states (estimated to be around 55 billion euros), which would be filled with contributions by participating banks during an eight-year establishment phase.This would help to alleviate the impact of failing banks on the sovereign debt of individual states.