Either we have national resolution authorities taking decisions with very limited discretion; or we have a central resolution authority taking decisions with some discretion. I see the current agreement – decentralisation plus discretion – as the wrong combination.
BIS central bankers’ speeches  3  One solution to this, at least for countries that participate in the SSM, is the creation of the Single Resolution Mechanism (SRM) to centralise resolution decision-making. The Commission recently released its proposal for such a mechanism based on Art. 114 TFEU, and the ECB supports the main elements of this proposal.