The Governing Council comprises the six members of the ECB Executive Board, including the ECB President, and the Governors of the now twelve euro area national central banks. Inter alia, the ECB Council decides on the official interest rates at which banks can obtain liquidity from the central bank.
The Irish experience In some ways, NPL resolution is similar to endurance running. Both require defining clear goals, ensuring the correct strategy and processes are in place, and effective preparation. However, plans and processes alone are not sufficient for success. Achieving the required distance requires continued resolve over an extended period of time and developing endurance on the ‘hard road’.