All in all, European banks have seen an increase in the number of formally independent board members over the past few years, even though some banks lag behind. In Germany in particular, supervisory boards and shareholders are prone to doubts and misunderstanding in this respect. What do supervisors really expect as regards independence?
Phase one is the very short period, perhaps a day or two, immediately following the discovery that a bank is in severe distress. It involves decisions around whether and how to get the bank solvent and operating again.