This number was higher at the time than for the other major central banks. Following the changes to our operational framework in October 2008, this number rose further. Currently 2,200 credit institutions in the euro area have the opportunity to refinance themselves with us, and for most of the remaining 4,300 credit institutions it would not be a problematic to become eligible.
For example, in March 2009, 750 counterparties actually made use of this opportunity, compared with 450 in July 2007. This structural feature of our operational framework has been instrumental since the first stages of the crisis in ensuring widespread confidence that all relevant intermediaries can access liquidity.