But ultimately, the provision of emergency liquidity assistance depends on each central bank’s national framework, since ELA is carried out as a national function which national central banks may perform unless the Governing Council finds with a 2/3 majority that it interferes with the objectives and tasks of the ESCB.
Access to, but more importantly, the use of financial services, helps to increase economic opportunities and reduce vulnerabilities. Digital payment platforms are essential in enabling individuals, families and communities, to contribute towards economic development.