What do you do in response to that? Central banks were made independent because independence is the pillar of their credibility. The 8 / 10  BIS central bankers' speeches  best response is therefore to continue to pursue our mandate. If central banks deliver what they’ve been tasked to do, that’s the best answer to some of these concerns.
Looking beyond the contribution of deposit insurance to overall financial stability, we should not minimize the security it has brought to millions of households and small businesses. Deposit insurance has provided a safe and secure place for those households and small businesses with relatively modest amounts of financial assets to hold their transaction and other balances.