These interventions have helped to maintain a monetary stance consistent with the inflation aim; they have allowed intermediaries to satisfy the economy’s funding requirements and governments to access the necessary  4  The Governor’s Concluding Remarks Annual Report 2020  BANCA D’ITALIA  resources to support households and firms without the emergence of market tensions (Figure 2).
The Inquiry generally supported the steps the Payments System Board (PSB) has taken since its creation after Wallis, but raised a few areas where the Board could consider consulting on possible further steps. As it happens, these dovetail well with issues that the PSB has been considering for some time.