With the full removal of blanket guarantee of deposits, it is expected that depositors themselves will make a rigorous selection of financial institutions, but amid the increasingly diverse and complex range of financial products, market discipline will not work fully based merely on the selections made by depositors alone. It is necessary for all parties concerned to make market discipline function effectively.
These parties include the shareholders of the financial institutions, the creditors, the stock exchanges that list the shares of the financial institutions, the auditors, the credit rating agencies, and the external directors of the financial institutions. In addition, market participants, not the supervisory authorities, should take the lead in the formation of market rules necessary for the practical functioning of market discipline.