This drive has seen the roll-out of several digital initiatives such as, the digital property addressing system, the National biometric ID cards which will be linked to Government agencies to help ease identification processes and promote integrity and efficiency in business transactions. 4. We are also witnesses to the tremendous impact of digitisation on the financial sector.
Those measures include, most notably, our credit easing package consisting of the Targeted Long-Term Refinancing Operations (TLTROs) and Asset Purchase Programme (APP). Monetary transmission has also been supported by expanding the APP to include public sector securities. These instruments have had a strong impact and have contributed to the lowering of marketbased financing costs for both banks and non-financial corporations (NFCs).