3 For example, the Board has made it clear that capital stress tests and other aspects of the Comprehensive Capital Analysis and Review requirements do not apply to community banks, either explicitly or implicitly.
The ECB (as well as European national central banks) has purchased euro-denominated bonds issued by euro-area governments, agencies, and European institutions since March 2015 in an effort to restore the size of its balance sheet to that of March 2012 – or about BIS central bankers’ speeches  1  3 trillion euros.