BIS Review 104/2008  1  Migration of mandates One is a legal issue. How can we ensure that there are no problems in the migration from the existing mandates to the new SEPA direct debit mandates?
In particular, there was no other asset class with comparable risk characteristics and with a similar potential for easing private-sector borrowing conditions. •  Third, PSPP purchases expose the Eurosystem balance sheet to a certain risk. These risks are mitigated because PSPP-eligible bonds need to satisfy minimum credit quality requirements.