Correct. Though just to be precise, a bailin would happen well ahead of a bankruptcy, the regulator wouldn’t wait for the situation to be that bad to call the b

Correct. Though just to be precise, a bailin would happen well ahead of a bankruptcy, the regulator wouldn’t wait for the situation to be that bad to call the bank non viable (except in a jump to default scenario). Absorbed/acquired: that’s a bailout. Always an option but I think everyone agrees no one wants to see that happen again unless it is a willing private buyer.