We have set in train jointly with the Basel Committee, and with the IMF as a key partner, a thorough macroeconomic impact assessment to inform these phase-in and implementation arrangements. Preliminary results on all assessment streams will be available in June/July.
And ﬁnally, I will elaborate on what a central bank, and speciﬁcally the Eurosystem, should do to protect its balance sheet from climate-related ﬁnancial risks. 2 Greening the financial system - the role of the BIS As regards the greening of the ﬁnancial system and the support of central banks in addressing climate-related risks, the BIS has done pioneering work.