Finally, to establish a strong resolution regime: we need to persist in our endeavours. It takes time and perseverance to overcome hesitation or reluctance, which is still present at some banks and authorities. Yet we also need to keep up our collective efforts if we really want to minimise the impact of bank failures on the real economy and society as a whole.
We will be very interested in your feedback regarding how these types of industry changes have impacted the effectiveness of our regulations. Let me conclude by saying that we will consider your comments carefully as the agencies coordinate to discuss and consider the appropriate action that is likely to best serve our financial system and the interests of institutions and consumers.