In addition to the widely mentioned concept of the definition of default in different countries, I can give you an example: capital adequacy rules usually establish a zero risk weight on local sovereign claims denominated and funded in domestic currency.
In particular, the pandemic emergency purchase programme (PEPP) helped reduce systemic stress in financial markets. After the announcement of the PEPP, financial conditions for companies, households and governments clearly improved in the euro area. Moreover, during spring, it became clearer that the crisis would dampen future consumer prices. Therefore, further monetary policy action was warranted in June, given our mandate to ensure price stability.