As regards its access to liquidity, I think it is important for observers and market participants to know that the ECB is supplying liquidity in euro on an unlimited basis at fixed rates for durations of one week, one month and three months.
In an evolutionary system, continuous development is vital merely in order to maintain the fitness of an organism relative to the system with which it is co-evolving. Similarly, the financial sector as well as regulation and supervision may be considered as a system that is evolving over time.