The minimum capital requirement represents the amount of capital that experience suggests a bank needs so as to retain the confidence of its customers and counterparties and thus function as an intermediary.
Indeed, the clearest demonstration of the determination of the Governing Council to act when necessary was provided precisely by the decision, taken by the majority of the Council members, to proceed with the asset purchase programme. Today, like before, we are not constrained in our capacity to intervene; we have many instruments at our disposal.