I will highlight the main elements of the new framework, each of which is discussed in detail in the paper itself. i. The paper introduces the concept of a ‘designated resolution institution’, applicable to any financial institution whose failure would disrupt financial stability. The Special Resolution Bill will apply to all banks and to systemically significant non-financial institutions.
It is a continuous process which will call for Treaty changes if necessary. As this process will take time, we need to start planning today for the Europe of tomorrow and the Europe of the day after tomorrow. BIS central bankers’ speeches  1  Third, the underpinning of a more integrated Europe is the emergence of a true European public debate.