Mr. Aidan Carrigan:

It will not be in a normal situation where a bank needs capital. In such circumstances, the bank in question would have a number of processes in place to allow it to raise capital. I should emphasise that what is being managed under the single resolution mechanism is the rule book of the bank recovery and resolution directive. There will be a process of bank recovery interventions which will be managed by the single resolution board. Where a bank has failed to put straight its own affairs, is in danger of insolvency and where there is a need for resolution intervention, at that stage the single resolution mechanism will kick in. There will still be a range of interventions available to the resolution mechanism in order to deal with recovery plans. The final step would be financial intervention.