Banks should not just provide banking services, but should ensure they meet the needs of customers while also being aligned to environmental, social and governance considerations. In the context of the actions to reverse the climate crisis, we aspire for a world where all financial services are green. Three milestones have been reached in this journey.
This had a direct impact on the funding costs for households and enterprises in the euro area, thereby cushioning the economic impact of the crisis. Figure 12 10-year yield spreads of selected government bonds over German equivalents. Basis points  Source: Bloomberg. Latest observation: 16 September 2020. However, risk premia on government bonds did not decrease solely because of the monetary policy response.