Speech  The ECB’s 2022 Convergence Report Introductory statement by Fabio Panetta, Member of the Executive Board of the ECB, at the meeting of the Euro Accession Countries Working Group of the Committee on Economic and Monetary Affairs of the European Parliament Brussels, 1 June 2022 Thank you for inviting me to discuss our latest ECB Convergence Report.
Further, as is now very obvious from the recent surveys by AIDIS and IIMS, the challenge also lies in offering to low income households and unorganized enterprises a simple loan product which is not based on or linked to the purpose of the loan, the collateral  BIS Review 110/2008  3  or assets held or income earned by the household but is purely based on cash flow and credit record of the household.