Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

Mr. Carrigan can understand the concern that some people might have because they feel at least the ultimate damage to their depositors would be less knowing there is a resolution fund in place. I get his point. There is a question of moral hazard and that is subjective, and that is what the supervisory mechanism is there to ensure does not happen. That leads me on to my next question.

The supervisory mechanism will only deal with the most significant institutions whereas the resolution mechanism will deal with up to all the 6,000 banks. Where is the trigger in that respect? One can easily recognise that an institution that is being supervised at the European Central Bank and authorities through supervisory mechanism would have a good handle on those and would see a problem arising and if it arose they would be on top of it, but with regard to all the other institutions that are not being supervised, is there not a concern that people will only hear about it when things have gone completely wrong because there was not the same level of supervision?