In this context, the Governing Council decided last month to adopt several credit easing measures – by which I mean, measures aimed at ensuring that the accommodative policy stance is translated into a corresponding easing in credit conditions. In particular, these measures include a series of targeted longer-term refinancing operations (TLTROs) aimed at easing credit conditions.
A bank’s customers can be reassured that, any time they want, they can convert their deposits into cash. Furthermore, cash is universally accessible. Anyone can use it, including people who don’t have bank accounts. Perhaps not surprisingly, then, cash is very important to those who may face challenges accessing alternative payment methods—such as the homeless and those living in remote communities.