Although the costs of similar restructuring process in other countries do not differ much from what I cited earlier, and in fact the cost in some countries were much higher, the figure itself may raise eyebrows. But, is there any alternative? There is apparently no workable alternative one could think of. One extreme alternative is, of course, not to help the banks with re-capitalization.
They would need to provide more collateral to the central bank. And the interest rate to be paid on central bank credit may, at least in normal times, be higher than the average rate on customer deposits. The profitability of these banks might suffer. A consequence could be higher interest rates on bank loans.