This would enable prompt and coordinated resolution action to be taken, specifically where cross-border banks are concerned. Experience has repeatedly taught us that mere coordination between national authorities does not suffice in a cross-border bank resolution. Successful resolution needs prompt and decisive action.
Although the organisational aspects of the SRA still need to be decided, in order to achieve its objectives, the SRA should be strong, independent and preferably a standalone authority and should collaborate closely with the SSM and the European Commission. Second, the SRA should have adequate funds for resolution financing.