The supply of assets eligible for use in Eurosystem refinancing operations is now very substantial thanks in part to a large volume of public guarantees on bank bonds, which will mature in the next few years, however. Going forward, the supply must be maintained by increasing the share of eligible assets, among other things by adding new types.
Great care must be taken to ensure that loan granting procedures meet the requirements for Eurosystem refinancing. In the coming weeks we will call on the banks for an examination of the steps to be taken. In several cases Italian banks not only provide finance, they also participate directly in the capital of firms.