Nonetheless, those threats are real and to cope with them the Governing Council is determined to keep the monetary policy stance accommodative for an extended period of time. Moreover, the Governing Council is unanimous in its commitment to also using unconventional instruments within its mandate, should it become necessary to further address risks of too prolonged a period of low inflation.
Banks, on the other hand, will benefit from the robust credit scoring models built on the database to supplement or to validate their internal scoring models. This will particularly be useful to those without a credit scoring model. The CRD will enhance the credit risk management system of banks.