While all options are on the table, the PEPP and TLTROs have proven their effectiveness in the current environment and can be dynamically adjusted to react to how the pandemic evolves. They are therefore likely to remain the main tools for adjusting our monetary policy.
The technical work is organized in five work streams, focusing on an initial mapping of the euro area banking system, legal issues, the development of a supervisory model, the coordination of the comprehensive assessment of the credit institutions and the preparation of a future supervisory reporting template for the SSM.