The Governing Council very strongly supports recent and ongoing efforts by a number of governments in this direction. It also encourages social partners to fully commit themselves to the objective of making the euro area a more dynamic and innovative economy, as intended by the “Lisbon agenda”.
Under BRRD, banks will have to maintain a minimum level of liabilities that are eligible to be bailed-in, meaning shareholders and creditors will absorb the majority of losses. Moreover, it seems very likely that BRRD will contain a depositor preference rule, with insured deposits given the highest priority. This means that only in extreme cases will deposit guarantee schemes have to pay out.