[8] When there is no clear monetary policy rationale for preferring domestic sovereign bonds, in my view we could consider increasing the share of EU supranational bonds in our total bond holdings to avoid potential climate and environmental risks and better align our balance sheet with the general economic policies of the EU.
Our commitment to avoid climate-related risks that are detrimental to price stability and to align with the general economic policies of the EU is part of our monetary policy strategy. Therefore, it applies to everything that we do. Beyond our bond holdings this includes our collateral framework.