The CCyB Option Before I outline how we might modify the CCyB, let me explain what the CCyB is designed to accomplish and how it fits into the Board’s overall financial stability efforts.
First, in line with the execution of the programme over the past two months or so, the in-built flexibility of the PEPP purchases can still play a key role in market stabilisation, safeguarding the smooth transmission of monetary policy across asset classes and among jurisdictions.