The latter two elements are a necessary complement to the SSM and will ultimately increase its credibility. 2  BIS central bankers’ speeches  Finally, threats to credibility and independence might also make the job of central bankers more difficult. Central banks have fulfilled their man-dates and proven successful through their measures and interventions.
As a result of the earned credibility, politicians and the general public have now higher expectations as to central banks’ ability to manage crisis and the economy. This might overburden central banks and make them more involved in sensitive areas.