Together with the two resolution authorities – the Danish Financial Supervisory Authority and Financial Stability – Danmarks Nationalbank is therefore working actively with such plans for the systemically important financial institutions in Denmark. The work on the resolution plans and the assessment of whether they will work involves a large element of learning by doing.
It is not work that will be completed this year. And the plans will need to be updated on a continuous basis. The mortgage banks are fully comprised by the crisis management regime. However, there is one significant exemption, in that the minimum requirement for own funds and eligible liabilities does not apply to them.