In addition, a persistent undershoot of our stated 2 percent goal could undermine the FOMC’s credibility, causing inflation expectations to drift and actual inflation and economic activity to become more volatile.
We have developed a “Guide to the assessment of fintech bank licence applications”. The purpose of the guide is to make the process more transparent for potential fintech bank applicants and to increase their understanding of the procedure and criteria applied by the ECB when assessing licence applications.