[12] Lambert, D., McCann, F., McQuinn, J., Myers, S. & F. Yao (2020).“SME nances, the pandemic, and the design of enterprise support policies”, Financial Stability Note, Vol.2020, No. 8, Central Bank of Ireland. [13] Cahill, B. & R. Lydon (2021). “The Impact of COVID-19 on the incomes and debt sustainability of Irish households”. Economic Letter, Vol. 2021, No.2, Central Bank of Ireland. [14] Ibid.
When everyone is confident that the financial system is safe, there is less need either to keep precautionary resources or to spend on arrangements to guard against the effects of financial instability. Canada's clearing and settlement systems have been judged to be very sound.