An important pre-condition is a swift adoption of the Bank Recovery and Resolution Directive, as it lays out a harmonised toolbox of resolution powers. The Single Resolution Mechanism would build on the measures and tools laid down in the Directive, particularly by providing a robust framework that allows for prompt and coordinated resolution action, specifically where cross-border banks are concerned.
Having started my banking career with Punjab National Bank, one of the sponsor banks of NIBSCOM, I am specially delighted to be here amongst you. 2. In addition to various statutory and regulatory requirements, banking also has certain time-honoured banking conventions and practices. These practical concepts are best understood by practitioners and therefore best taught by them too.