Europe must continue to follow this path,  10/11  BIS - Central bankers' speeches  including: implementing the final Basel III Accord, honouring its original spirit as much as possible, and adopting faster and more effective crisis management mechanisms for all banks, bearing in mind, based on recent experience, how the failure of even relatively small banks can trigger a dangerous episodes of contagion.
The job of commercial banks is basically to 'transform maturities'; this exposes them structurally to liquidity risk, which should be lowered by imposing appropriate regulatory requirements so as to prevent bank runs – whether physical or digital – and bank failures, possibly as part of a chain reaction.