Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Mr. Cross's reasoning makes sense as the proposals are alarming in this area.

Reference was made to the total loss absorbing capacity, TLAC, standard in Pillar 1. Do the witnesses support the idea proposed by the Bundesbank to gradually increase the TLAC ratio? Rather than developing this untested concept, would it not be a better approach to require additional capital for systemic banks as opposed to setting a TLAC level for these banks?