If banks do not take their responsibility to show that lessons have been learned from the crisis, a serious threat exists that legislators may opt for overly simple solutions that try to reduce complexity at any price and, from a societal perspective, are suboptimal.
Third, we decided to include investment-grade euro-denominated bonds issued by non-bank corporations established in the euro area in the list of assets that are eligible for regular purchases under a new corporate sector purchase programme. This will further strengthen the pass-through of our asset purchases to the financing conditions of the real economy.