- 2012 was not a good year for banks (just 2012???)
- states must provide backstop after asset review
- Situation in financial system remains fragile
- Financial stability has improved
- Risks in bank funding are receeding
- probability of of large bank default fell with OMT
- States must be ready to to recap banks
- Some bank balance sheets in need of repair
- ECB monitoring quite closely speed of inflation decrease