Going forward, we expect a special impetus to the growth of corporate debt market in our guidance to the banks to issue long term bonds to support infrastructure and housing projects. Further, in order to meet the capital requirements under the Basel III Framework, banks will tap the market with their Additional Tier 1 bonds, besides Tier 2 bonds.
To this end, in our role as the macroprudential authority, we are committed to improving the resilience of the Irish financial system in the event of adverse shocks. The implementation of the eurosystem’s asset purchase programmes has been a major priority in recent years.