Even if all the good assets can be liquified to meet a run, if not all the assets are good, failure may still occur. Failures of individual institutions could be allowed provided they did not damage confidence in others, but it is always difficult to know just how small or large a failure might cross the threshold.
Seminars at the time were aimed, in particular, at the smooth integration of the accession countries’ central banks into the European System of Central Banks. After this phase was successfully concluded with those countries’ accession to the EU, Central Bank Cooperation widened its scope in terms of its geographical reach and activities.