Likewise, our reinvestment policy will ensure that the stock of assets on our balance sheet remains in place for a long period and continues to support our accommodative stance.
But vulnerabilities remain, not least for households who have defaulted in the past, or have had their loans restructured. These households are particularly vulnerable to shocks. Looking at resilience in the banking sector, overall the domestic banking system is now better able to absorb shocks rather than amplify them.