Mr. Chairman, there are a number of factors that explain the success of Standard Chartered Bank in the market: the provision of better quality products and services, competitive pricing and enhanced access by customers on terms structured to meet their needs, and a culture rooted in uncompromising respect for the highest standards and integrity that are essential for public confidence.
Nevertheless, six years after its launch, the project remains incomplete both in terms of the so-called third pillar – the European Deposit Insurance Scheme – and as regards certain aspects that are essential to enhance the soundness and coherence of the Single Resolution Mechanism, notably in the crucial matter of the financing of resolution measures and the consequences of winding-up institutions.