In addition to these European initiatives, the Central Bank also conducted a horizontal assessment of Less Significant Institutions’ (LSIs’) board-approved plans relating to climate-related and environmental risks in 2022. Again, while we acknowledge that some progress has been made since the initial assessment, the majority of these plans lacked ambition, with significant variations in the quality of the plans received.
As for the two economic questions, one regarded the regulated price of bread: this had been set during the war but by 1920 had become unrealistic owing to wartime inflation and had to be heavily subsidized, creating a gaping hole in the public accounts.