A full history of these interventions can be found in Part II of our March 2017 update on the Tracker Mortgage Examination, which is available together with all previous updates on the Examination here: www.centralbank.ie/consumer-hub/tracker-mortgage-examination  1 An outline of the Central Bank’s policy and supervisory interventions and enforcement activity in relation to  tracker mortgage-related issues in the pre-Examination period is contained in the annex to this statement.
And it would have to make use of its blocking minority in order not to violate the prohibition of monetary financing. But even below that threshold, the purchases have made the Eurosystem the member states’ largest creditor. What is more, in the context of asset purchases, changes in monetary policy impact much more directly on governments’ funding costs than interest rate moves do.