I would argue that there will be fundamental cultural change not only in the supervisory crisis management and regulatory framework for banks but also in the banking industry. In the future we avoid use of taxpayers’ money as a rule and bail-out would be only as a rare exception.
This in turn means also correct incentives in banking and hence a more stable financial system. The Single Supervisory Mechanism After the successful comprehensive assessment process, the SSM is up and running. The SSM was established to ensure that strong supervisory standards are applied in a consistent manner across the euro area.