This is the single most important contribution to demand management and macroeconomic stability that you can ask of your Central Bank. Indeed, the Bank’s primary statutory mandate is to maintain price stability. Along with this mandate, the Bank is responsible for promotion of a safe and sound financial system as well as efficient payments infrastructure.
Development of EU securities markets and securities regulation I surely do not have to remind you of the significance of securities markets from the ECB’s point of view. Efficient securities trading platforms and clearing and settlement institutions are of fundamental importance for the functioning of the financial market.