This framework should enter into force as soon as possible, and I would like to see the bail-in provisions advanced to 2015 to reduce the cost of bank repair for the public purse. The next step is to establish a Single Resolution Mechanism, based on a Single Resolution Authority and a fund to be financed by the levies on the banking industry itself.
1  4  Charles I. Plosser, “Some Observations About Policy Lessons from the Crisis,” remarks at the Philadelphia Fed Policy Forum, Philadelphia, PA, December 4, 2009.