For instance, authorities could be faced with a situation where the application of resolution procedures is preferable to the activation of a recovery plan. This means, of course, that much will depend on the willingness of authorities to do the right thing in the moment of crisis.
Ladies and gentlemen, you and I know the value of keeping our financial system healthy on an institutional, national, regional, and global level. For better or for worse, financial systems affect economies and the lives of millions even billions of people.