The frequency of term PRAs was increased to weekly from biweekly; eligible counterparties were expanded to include LVTS participants in addition to primary dealers; and a 3-month term PRA maturity was added. The Bank also temporarily broadened the list of securities eligible as assets in term PRA transactions to include own-issued ABCP.
You are now engaging in political debate, telling countries what reforms to implement. Hasn’t the ECB stretched its mandate in order to maintain price stability? Praet: As you know, the ECB takes monetary policy decisions to achieve its objective of maintaining price stability.