Further operational details on these decisions can be found in a press release that will be posted on our website after this press conference. The improved conditions in financial markets have indicated that not all our liquidity measures are needed to the same extent as in the past.
With these decisions, the Eurosystem continues to provide liquidity support to the banking system of the euro area for an extended period at very favourable conditions and to facilitate the provision of credit to the euro area economy. Let me now explain our assessment in greater detail, starting with the economic analysis.