Accommodation to date encompasses the following: policy interest rates near zero and in some cases negative; further stimulus from considerable enlargement of central bank balance sheets through large-scale asset purchases; and forward guidance to orient market expectations.
The details of this process are complex, and I’m happy to tell you more if you are interested. But the bottom line is simple. The mechanism aims to minimise both the impact of bank failures on financial stability and their cost to taxpayers. But resolution is not the final piece of the puzzle. Nor is it the final pillar of the banking union.