As we face the challenges and uncertainties from this continuing pandemic, the BSP reiterates its commitment to use its entire arsenal of policy tools and instruments in a timely and prudent manner to help cushion the economy from the potential fallout.
We fully support the intention announced by the Commission to present a legislative proposal for a single resolution mechanism, having at the center a resolution authority that should be approved before the SSM becomes fully operational. 7  10  ECB, (2012) Financial Stability Review, December, Special Feature A “Predicting bank distress and identifying interdependencies among European banks”.