An efficient resolution mechanism including the possibility to bail-in bank debt-holders is a key element in the new policy objective to have bail-in as the predominant tool in resolution and limit the use of bail-outs as far as possible. In the new regime, bail-in should be the rule, bail-out the rare exception.
As we all know, the swift and orderly resolution of cross-border banks is the Achilles heel that needs to be addressed. For this purpose, one needs to move from national to supranational arrangements for significant banks. I do not need to remind that this would be particularly important for the highly integrated Nordic banking market.