During the crisis, many banks that should have failed did not fail. Instead, governments propped them up with public funds – at huge cost to taxpayers. They did so out of fear of a systemic crisis. They were worried that when a large bank fails, it would drag others down and destroy the entire system.
Having decided to join the CashSSP, negotiations were commenced on the necessary agreements, pricing policy and a more detailed operational framework. It is clear, that when trying to find the common denominator in information technology, business options and in sharing costs and benefits, negotiations are not necessarily simple or easy.