The ECB is today exploring options to further strengthen lending to the real economy and, in particular, to small and medium-sized enterprises, which form the backbone of the euro area economy. But the ECB can only act within its mandate.
Assuming non-profitable assets today present in the balance sheets of banks, or seeking to artificially eliminate differences in financing costs arising from different risk environment or from insufficient capital would amount to  6  BIS central bankers’ speeches  substituting actions not taken by other actors. This would be to the detriment of the central bank’s independence and freedom of action.