The banks’ shares acquired by the State in the recapitalisation process will have limited voting rights, but may still allow for upside returns to be shared between the State and private shareholders. Whenever possible, the private management of banks will be safeguarded. The governance structure of the recapitalisation and resolution processes will be significantly enhanced.
That, in turn, can lead to less overall lending and negatively affect the broader economy.4 And in  3 For example, Bernanke (1983) showed how financial disruptions can reduce the availability of credit and reduce aggregate demand, and Diamond and Dybvig (1983) showed how bank runs can affect the real economy.