8  These estimates are based on a counterfactual simulation of lending rates using a panel BVAR of euro area banks and the long-run effect of lower government bond yields on NFC lending rates using a panel-error correction model, also estimated at bank level. 9  ECB (2015), “The transmission of the ECB’s recent non-standard monetary policy measures”, Economic Bulletin, Issue 7/2015.
It gives me great pleasure to be here today for the official launching of this new state-of-the-art head office for CalBank Limited, and for the opportunity to make a few remarks on this occasion. 2. I am delighted because this commissioning signals what a local indigenous bank can achieve with commitment and hard work by its dedicated workforce.