In order to give a clear signal to the banking industry and the public, the ECB published a number of objectives in September which it expects the industry to fulfil and which should contribute towards substantial improvements. The current inadequacies are linked, in part, to the still predominant recourse to correspondent banking and the lack of adequate interbank infrastructures.
Banks are the elementary building blocks of the financial system and to ensure financial stability we need resilient banks. 2  What defines a resilient bank? But what is a resilient bank? To begin with, a resilient bank is able to withstand shocks. A resilient bank enjoys the confidence of investors and customers.