A bank can fail for a million reasons. Sometimes it is a slow death that drags on over weeks and weeks. Sometimes it all happens within a couple of days. In the end, it is up to the ECB to decide whether the moment has come, and that is a decision which cannot be taken lightly.
In previous FSRs, we described how quickly we all came together. Faced with an unprecedented crisis, we took unconventional measures to respond to an out-of-the-box challenge. In this FSR, we talk about what we have learned from Covid.