Let me list four of them. First, the systemic importance of the bank. The greatest effect of the new bail-in rules should in principle be on those banks that would in the past have benefited most from an implicit guarantee. In other words, it should affect more significantly systemically important financial institutions (SIFIs).
And among the SIFIs, it should affect the riskiest banks the most. Second, the bank’s liability structure. For those banks that fall short of the bail-inable debt requirements, the Directive will force them to increase their unsecured liabilities, since secured ones cannot be bailed-in.