Once live, this enhancement will offer Eurosystem counterparties the ability to manage their overall collateral holdings in a more flexible and efficient manner and to flexibly switch their collateral between central bank refinancing and interbank market financing. Central banks of course have not been alone in taking initiatives over the last few years.
We should be able to achieve this with the collective volume of investments we have in this room today. A higher allocation to green investments could slow the rate of climate change. This also serves to decrease the risk on the liability-side. But, again, we need to keep asking ourselves: Are we doing enough to lower risk?