The ECB and the national micro- and macroprudential authorities deployed extraordinary measures to limit the consequences of the pandemic, acting in a countercyclical manner. The ECB encouraged banks to use their capital and liquidity buffers for lending purposes and loss absorption. We also continue to closely monitor risks in the non-bank financial sector.
The BMW Program is intended to complement what children learn in school through the national Financial Education Program. I would like to now address our children in particular at this time.