Transmission channels of the credit easing package Our decision to respond to emerging shocks by rescaling our existing measures – rather than adopting new ones – has hinged on our confidence that those measures are effective in lifting inflation back towards our objective.
“TLAC” and “MREL” will be the key terms in this respect. Second, we will again be looking very closely at what exactly constitutes capital, as well as establishing an overview of the banks’ internal models and processes used to determine the capital requirements. The fourth priority is banks’ internal risk management.