The EU framework to resolve failing banks has proved in several recent high-profile cases that it works. But more progress is  needed at both EU and national levels to ensure that the too-big-to-fail problem is laid to rest once and for all, and that banks become properly resolvable.  That was the message at the Single Resolution Board’s annual conference in Brussels today.

The financial crisis has changed the way the financial and economic markets and their participants see the resilience of the financial system. Soundness and resolvability of financial institutions are two key objectives of the Banking Union - the so-called first two pillars - that are well underway in being established.

The third element, a single deposit insurance framework, has not been implemented, and this needs to be solved if the Union is to live up to its promises, Danièle Nouy, chair of the Supervisory Board at the...