This approach has been consistently applied in past cases and will continue to guide the actions of the SRB and ECB banking supervision in crisis interventions.1 Additional Tier 1 – a market worth roughly EUR 250bn – is an important component of the capital structure of European banks. Lastly, on the market environment, recall what the ECB Governing Council emphasised one week ago.
The Eurosystem's toolkit is fully equipped to provide liquidity support, if needed, and to preserve the smooth transmission of monetary policy. In this context, you will have seen that the Eurosystem has increased the frequency of providing 7-day USD funding from weekly to daily as of this week.