ABS have also shown a steady growth, reaching 11.4 % of all collateral submitted by the end of 2006, and 19% by the end of August 2007 (+4% in August 2007). The year 2007 has also shown a steady increase in the use of credit claims, which by end of July 2007 represented roughly 10% of all assets submitted as collateral to the Eurosystem.
This will improve ease of doing business and enable the business community to better handle their payments. Ladies and Gentlemen, I have noted low adoption of payment infrastructure by the local business community.