Notably, the design of these measures has taken into account the pivotal role of banks in financing the real economy of the euro area  2  BIS central bankers’ speeches  (slide 8). They focused on a proper functioning of the banking sector, by ensuring that funding markets, notably the money market, continued functioning.
6 For a catalogue of these actions, see “Supervisory and Regulatory Actions in Response to COVID-19,” Board of Governors of the Federal Reserve System, last updated March 15, 2021, https://www.federalreserve.gov/supervisory-regulatory-action-response-covid-19.htm. 3  -3maintained or extended some of those measures, where appropriate, to preserve household assistance and promote continued access to credit.