Moreover, markets expect the ECB to extend its long-term loan programme to the banking sector (TLTRO). At yesterday’s GC meeting, the ECB left its key interest rates unchanged, while it said it intends to continue reinvesting maturing securities under its asset purchase programme for an extended period of time past the date when it starts raising the key interest rates.
As we continue on the path to recovery, overcome the trials and strive to maintain financial soundness and stability, the supervisors have a responsibility to develop the capacity of their respective teams. They should also be willing to efficiently discharge their functions if we are to succeed in achieving effective supervision of the financial institutions in a manner that aligns with globally-accepted standards.