The SRF ensures uniform practice in the financing of resolutions within the Single Resolution Mechanism (SRM). It also ensures that the financial industry, as a whole, finances the stabilisation of the financial system, as it pools contributions raised at national level from entities within the Single Resolution Board’s remit in each of the 19 Member States in the banking union.
It required a truly joint approach between science and policy, between business and government. Policymakers had to put aside preconceived notions, be prepared to further integrate science into policymaking, and have the courage to follow the emerging evidence wherever it led.