This approach has been consistently applied in past cases and will continue to guide the actions of the SRB and ECB banking supervision in crisis interventions.1 Additional Tier 1 – a market worth roughly EUR 250bn – is an important component of the capital structure of European banks. Lastly, on the market environment, recall what the ECB Governing Council emphasised one week ago.
While it was once conceivable for a car user to understand the practical working of a carburettor or a spark plug, nowadays a car’s many electronic parts are a black box, even to a specialised mechanic, and almost all repair is based on automated diagnosis and replacement.