Specifically, under the Council agreement, banks can only be recapitalised with resolution financing arrangements, such as a resolution fund, after a minimum level of bail-in equal to 8% of total liabilities has been imposed on shareholders and creditors. I welcome this focus on bail-in, as it should encourage investors in all banks to price risk properly, rather than expecting only reward.
The productivity of the banking sector accelerated and contributed in a significant way to the remarkable Finnish growth performance of the last decade and a half. (6 )  Sound public finances and a strong current account  The Finnish fiscal policy tradition displays an aversion to deficits.