Furthermore, given the specific circumstances prevailing in the Greek economy, Greek government bonds are not eligible for the the purchase programme of public sector securities (PSPP ).
I believe strengthened capital and liquidity frameworks will be seen as a central achievement of the work to enhance systemic resilience. More capital will be required against trading and securitisation risks, and more intense oversight will be applied on liquidity risk management by banks. These improvements will be phased in carefully, so as not to exacerbate situations that are still fragile.