As for business fixed investment, there has been an increase in not only software investment aimed at saving labor but also investment intended for domestic capacity expansion as well as research and development (R&D) investment with an eye toward future growth (Chart 5).
For all other 3,500 banks the ECB will also set and monitor the supervisory standards and work closely with the national competent authorities on the supervision of these banks, ensuring a level playing field in the supervisory requirements to be met by banks.