Here I should mention the joint work by the European System of Central Banks and the Commission of European Securities Regulators towards establishing standards for securities clearing and settlement in the European Union. As indicated in the ECB policy statement of 2001, standards are to be carefully set and then implemented by public authorities with a clear interest and expertise in the respective field.
The Bank conducts an operation that provides long-term funds at a low interest rate to financial institutions that have business offices in the disaster-stricken areas in order to support their efforts to meet the demand for funds for rebuilding those areas.