Governance as part of our supervisory approach The widespread attention Good Governance receives nowadays could give the impression that this concept has only a brief history. On the contrary - looking back across the history of prudential financial supervision – we see that governance has been on our agenda for decades.
Since the start of 2016, and even more evidently since the corporate bond purchase programme was announced in March, borrowing conditions for companies with direct access to the bond market have improved materially. For example, over the first half of 2016 the cost of market-based debt for euro area nonfinancial corporations has declined by around 75 basis points.