Regarding our own investments that are not related to monetary policy, Banka Slovenije is increasing its share of green and other sustainable bonds. We also abstain from investing in firms in the tobacco and arms industries, and firms causing major environmental harm. We plan to further enhance our socially responsible investment framework by setting targets that are even more ambitious.
The first is about the effect of stabilizing financial systems and financial markets. This is the effect of soothing anxiety about financial systems by supplying ample liquidity to financial institutions, or the effect of stabilizing financial markets by central bank interventions when the markets become excessively risk averse and the market mechanism deteriorates, resulting in a surge in risk premiums.