It looks like a waste of money [because] it has never been used. But, clearly, it is a bad idea not to have them. In closing, let me invite everyone to download your copy of the 2022 Financial Stability Report. Tell us what you think, and we are more than happy to engage.
In particular circumstances, such as when the bail-in might entail risks for financial stability or compromise the continuity of critical functions, the authorities may, at their own discretion, exempt some categories of creditors from their obligation to contribute to the costs of the resolution.