The decisions taken have also been reflected in the Annual Accounts submitted to you today and will affect those of the coming years. We are keeping a close eye on the ongoing market tensions. The euro-area banking sector, thanks to capital strengthening policies and other prudential safeguards introduced for all European banks after the global financial crisis, is well capitalized.
However, if necessary, the Eurosystem stands ready to act with all available tools to maintain the effectiveness of the monetary policy transmission mechanism and to preserve financial stability.