Here, too, the focus lies on increasing the quantity of capital held, as a central component of the FSB concept are systemic capital surcharges for SIFIs that go well beyond the requirements of Basel III.
Only a banking union based on all these pillars will create the conditions for economic agents to make decisions based not on expectations about the sovereign risk of the country where the banks are headquartered, but according to the risk profile of the bank itself, irrespective of location.