It seems likely that these changes, which have happened much more quickly than they might have otherwise, will further reduce the use of cheques and demonstrate to people that there are alternative and more efficient ways of making payments. This may bring the efficiency implications of maintaining the cheque system into even sharper focus.
Accordingly, we can make a distinction between policies that decrease the probability of a bank failure and policies designed to make an individual bank failure as bearable as possible and there again policies geared to addressing sources of distrust.