The elongation of maturity profile has been made possible largely on account of increase in market appetite from non-bank market participants, particularly insurance companies and provident funds and improved market maturity.
* * * - One way of addressing both the global imbalances and the low level of investment in the euro area is to boost productivity in the euro area service sector. Poor performance in the service sector is the main reason why euro-area productivity growth has been lagging behind that of the USA. Increasing competition is vital to improving productivity.